The reference market price is the official benchmark for solar power remuneration: the Swiss Federal Office of Energy calculates it every quarter from prices on the short-term electricity market. Grid operators without their own tariff model – in the region, for example EKZ, WWZ or Glattwerk – remunerate your feed-in at exactly this value. In the first quarter of 2026 it was around 10.3 Rp./kWh; the statutory minimum remuneration provides a floor. (As of: July 2026)
Note for research and media: questions about the calculation methodology of this mechanism should go to the ecoEn editorial team.
Key points in brief
- Since 2026, the reference market price has been the statutory standard for feed-in remuneration – calculated by the Swiss Federal Office of Energy, valid for one quarter at a time.
- It is based on prices on the short-term electricity market; put simply: whatever electricity was worth on the exchange during the quarter is what you receive for your feed-in.
- Typical pattern: lower values in the summer quarters (lots of solar power on the grid), higher values in the winter quarters (electricity scarce).
- Utilities may deviate – upwards (ewz, Winterthur, AEW fixed price) without limit, downwards limited by the minimum remuneration.
- For your profitability calculation, a single quarter never counts – only the conservatively estimated multi-year average does.
What exactly is the reference market price?
Until the end of 2025, each utility largely set its own feed-in remuneration – with values ranging from 4 to over 20 centimes that were barely comprehensible for producers. The new Electricity Act has standardised this: the standard is now a uniform reference value for all of Switzerland, calculated and published by the Swiss Federal Office of Energy (SFOE).
The mechanics, explained simply: what counts is the price on the short-term electricity market (the so-called day-ahead trade) during the quarter. The SFOE averages these prices and publishes the result as the reference market price for the respective quarter. Your grid operator then applies the value to your fed-in kilowatt-hours – billing is quarterly, though many utilities pay monthly on account.
The idea behind it is market-economically clean: your solar power is worth exactly as much as electricity is worth at that point in time – no more, no less. The minimum remuneration provides the social cushioning, as the floor for small systems.
Why does the value fluctuate – and in what pattern?
The reference market price moves with the electricity market, which follows an annual rhythm that solar producers should know:
- Summer quarters (Q2/Q3): All solar systems in Switzerland – and half of Europe – feed in at the same time. At midday there is a surplus of electricity, and exchange prices fall. Precisely when your system delivers the most, the kilowatt-hour is worth the least.
- Winter quarters (Q1/Q4): Electricity is scarce, prices rise – but your system produces only a fraction.
For context: in the first quarter of 2026, the reference value was around 10.3 Rp./kWh – a winter value. In summer quarters, expect significantly lower values; in extreme cases the floor of 6.0 Rp. applies. This sawtooth pattern is not a design flaw but the reality of the solar market – and incidentally the reason why Stadtwerk Winterthur deliberately staggers its fixed prices seasonally.
Who exactly does the reference market price apply to?
For everyone whose grid operator does not run its own tariff model – in the region that specifically means EKZ, WWZ, Glattwerk and Thurplus. Other utilities deliberately decouple: ewz pays a stable, politically backed annual tariff, and AEW offers a fixed price as an option. The large tariff overview shows which model applies at your address.
Important: even under the market price model, your remuneration usually consists of two components – the reference market price for the energy plus the separate remuneration for the guarantee of origin (GO), provided you have registered and assigned it. If your statement only shows the bare market price, check your GO status.
Where do I find the current value?
The SFOE publishes the reference market prices on its website (keyword «Referenz-Marktpreis» or feed-in remuneration); utilities usually link directly to this in their tariff sheets. In practice, two habits are enough: look up the current quarterly value before a profitability calculation – and compare your own quarterly statement with the published values once a year.
How do you calculate with it correctly?
The most common mistake is to plan with a single quarterly value – the best one you have seen. A sound approach looks different:
1. Annual average instead of quarterly value: weight the quarters by your production – summer dominates the volume, so it pulls the effective average down. 2. Conservative range: calculate the base scenario close to the minimum remuneration and the realistic case with a moderate market value – if the system is already in the black in the base scenario, you are on the safe side. 3. Self-consumption first: every kilowatt-hour you consume yourself is independent of the market price and replaces the full purchase tariff – why this is the bigger lever.
Since the system change, we have observed a new phenomenon: customers follow the reference market price like a share price and anxiously ask in summer whether the system is «still worth it». Our answer is always the same calculation: for a typical 10 kWp system, the difference between a good and a bad market year on the feed-in side amounts to a few hundred francs – self-consumption and the one-off feed-in incentive contribute a multiple of that. The market price belongs in expectation management, not at the centre of the investment decision. If you factored it in conservatively at the time of purchase, you don't need to watch it daily afterwards.
Frequently asked questions
Is the reference market price calculated per canton?
No, it applies uniformly across Switzerland. Differences between utilities do not arise from the reference value, but from the choice of model (fixed price, seasonal price, market price) and the GO remuneration.
Can the reference market price fall to zero?
The market value can fall very low in extreme phases – but the statutory minimum remuneration then applies to your remuneration: 6.0 Rp./kWh for PV systems up to 30 kWp. Details: Minimum feed-in remuneration.
Do I get a different amount per kWh every quarter?
Yes, if your utility runs the market price model – the rate changes every quarter. The statement shows the quarters accordingly; monthly payments are then payments on account.
Is a battery worthwhile to avoid the low summer price?
A battery shifts electricity from midday to evening – this increases self-consumption, which is worth more than any feed-in. As a pure «market price timing device», however, a home battery does not pay off; the price differences are too small for that.
Who decides how it is calculated?
The calculation method is regulated in the federal Energy Ordinance; the SFOE carries out the calculation and publishes the values. Changes to the methodology go through ordinary ordinance revisions – nothing changes here overnight.
Free initial consultation
Low market price, high purchase tariff – your lever lies in between.
In the free battery check, we calculate with your consumption data whether more self-consumption offsets the low remuneration – using conservative market assumptions and the floor as a safety scenario.
Prefer to talk? +41 78 830 83 35
Photovoltaic installer for your region →
Swissolar-certified specialist company · ESTI installation authorisation (Art. 14 NIV) · in Zurich since 2017 · over 150 systems completed · a personal answer from the specialist company, no call centre
Sources: Swiss Federal Office of Energy (reference market price, EnFV Art. 15), Energy Ordinance, ElCom (FAQ Electricity Act), tariff sheets of the regional grid operators.
Last updated: 9 July 2026 · Author: ecoEn editorial team
