EnergyWatch

Sweden's government lowers target for returns at Vattenfall

The transition from coal to a growing share of renewable energy in the mix now means that the Swedish government is reducing the energy company's financial targets. The only target that the company has consistently met is being removed.

Photo: Bjorn Larsson Rosvall/AP

Sweden's government is dialing down expectations for Vattenfall. In an update of the financial targets for the next five years, changes are proposed for all four financial targerts. The most notable is the change in the target for returns on capital employed (ROCE) to 8 percent from 9 percent, which has been the goal since the current targets were set in November 2012, announces Vattenfall.

"The energy sector transformation has continued since 2012, whilst electricity prices have remained at historically low levels. Vattenfall has moreover shifted focus to fossil free energy production, in line with the new company strategy to power climate smarter living and becoming fossil free within one generation," writes the utility in the announcement.

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