Increasing electricity demand in Switzerland could be met through the construction of two new nuclear plants alongside a rise in renewable energy, under one of two future scenarios for the country presented in a report by energy company Axpo Group.

The company, which owns and has shares in nuclear plants, said that Switzerland faced increased electricity demand through the electrification of industry and transport, as well as acute demand in the winter months. Left on the current path, the company said the country would face “significant social and economic risks”.

To meet this demand, it said Switzerland has two potential low-emission and affordable options. The first is based on ensuring current nuclear capacity continued. This would be aided by hydropower, an increase in solar and wind energy, with gas power stations used as a flexible supplement.

The second includes the buildout of two new nuclear plants, which would work together with a lower increase in solar and wind energy than under the first scenario, as well as some market responsive gas-fired power.