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.

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