In September, glaciologist Matthias Huss removed a measuring rod from the Scex Rouge glacier, which sits at nearly 3,000 meters above sea level. He estimated that the glacier has no more than ten to fifteen years left. The Glamos network, which Huss leads, released a report on October 1st, stating that Swiss glaciers lost 5.5% of their volume this year, the second-worst result after 2022. Since 2021, nearly a fifth of the ice has disappeared. Winter was among the ten least snowy years since measurements began, and summer set records for heat in Switzerland, with a temperature deviation of 3.4°C recorded by MétéoSuisse. Heatwaves in June caused the protective snow cover to disappear, even at high altitudes. Between July and September, glaciers released about 2,200 billion liters of water—more than four times the annual consumption of drinking water for Swiss households. This water supported rivers during the drought. By mid-July, Swiss reservoirs were filled to 46%, their lowest seasonal level in twenty years. Operator Alpiq noted that the heat was increasing glacial inflows to the Grande Dixence or Emosson. The melting is currently cushioning the crisis it is preparing for in the future. Hydrologists refer to this as a "water peak," where glacial flow increases so much that the ice melts quickly and then collapses when there is nothing more to melt. Switzerland is using savings accumulated over centuries like a salary. In accounting, this has a name: eating into capital. Hydropower provides nearly 60% of Swiss electricity, and its dams act as a battery for the continent, compensating for the whims of solar and wind power. A battery whose summer recharge depends in part on the ice. In July, the Federal Electricity Commission anticipated no shortage. The risk is measured in decades, not seasons. From Valais to the Rhine Valley, the Rhône and the Rhine originate in these mountains. This summer showed what a river that is too low or too warm costs. On the Rhône, EDF stopped or restricted reactors at Bugey and Saint-Alban. The Nuclear Safety Authority even temporarily relaxed the thermal discharge limits at Bugey. On the Rhine, the gauge at Kaub would have fallen below 10 centimeters by mid-August. The barges could only load a fraction of their capacity, and river freight saw its rates almost quadruple. For Germany, the bill could reach 0.2 percentage points of GDP in the third quarter. These episodes are first of all weather-related. However, by the end of summer, glacial melting still supported flows, especially on the Rhône. When it stops, each heatwave will hit harder the turbines, the barges, the reactors, and irrigation. Mountain tourism, already disrupted by winters without snow, will lose in addition its emblematic landscapes. The Union adopted in 2025 a water resilience strategy. However, the debate on strategic autonomy is still dominated by pipelines, rare earths, and semiconductors. This natural and free infrastructure has never appeared in any balance sheet. Yet the water and energy security of Europe is played out at 3,000 meters. It remains to be seen whether the states will invest in time in reservoirs, water sharing, and transboundary cooperation. The glaciers, however, have already presented their closing accounts.