24. Derivative financial instruments
Swissgrid made use of derivative financial instruments to partially hedge against market price risk from future procurement costs for active power losses. The hedges were entered into in EUR and can be broken down as follows:
| In millions of EUR | 31.12.2025 | 31.12.2024 | ||
|---|---|---|---|---|
| Nominal amount | 94.7 | 116.1 | ||
| Positive replacement values | 3.8 | 3.3 | ||
| Negative replacement values | –0.9 | –15.9 | ||
| Net replacement values1 | 2.9 | –12.6 | ||
| 1 The net replacement value amounts to the equivalent of CHF 2.7 million (previous year: CHF –11.9 million). | ||||