Alpiq was created at the beginning of 2009 as a result of the merger of leading Swiss energy companies Atel and EOS.

Atel (Aare-Tessin Ltd. for Electricity) was founded as a regional electrical utility in 1894, and went on to become a leading Swiss energy company. As an independent service provider, Atel was active across Europe in the production, trading and sale of electricity. At the same time it delivered energy services related to all aspects of energy and its applications.

EOS (Energie Ouest Suisse) was founded in 1919 by electricity companies in Western Switzerland. The company operated a large number of hydroelectric power stations in Western Switzerland and, coupled with its 1,000 kilometer long high and extra-high voltage grid, peak load energy from proprietary plants and energy trading, was a key player in the European market for cross-border electricity trading.

Alpiq's principal shareholders are an EOS Holding consortium (31%), Atel's consortium of Swiss Minority Shareholders (31%), and EDF of France (25%)