EnergyWatch

Denmark is Vattenfall's largest investment area

In an increased investment  budget for the coming two years, wind energy's portion grows from 60 to 75 percent. The Swedish utility has already distributed most of the capital.

Photo: PR Vattenfall

2018 was not exactly a great year for Swedish utility Vattenfall. Revenue did increase by 16 percent and the bottom line by 11 percent, however, practically all parameters showed decline measured on both the company's underlying business and its strategic 2020 targets. The underlying operating result receded by 14 percent to SEK 19.9 billion (EUR 1.89 billion).

The heating division was pressured by rising coal prices and particularly by higher CO2 quotas. The utility did not manage to benefit from associated higher electricity prices due to the fact that most of its power generation was hedged at prices not set with last year's 40 percent price increase on key markets in mind.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Danish carbon storage can run at max from day one

TotalEnergies can't see the need to pilot carbon storage under the Harald field in the Danish North Sea. Rather, the supermajor wants to begin at full scale if the Bifrost project manifests. Although much now depends on two forthcoming events: presentation of political strategy and allocation of EUDP money.

Europe’s carbon price has almost tripled in 2021

European carbon futures rose above EUR 80 a tonne on Friday for the first time, testing the resolve of politicians who are promising to act aggressively on climate change while grappling with inflation that’s tearing into economies across the globe.

Further reading

Related articles

Latest News

See all jobs