Vattenfall's clever bets add billions to Swedish state coffers
Power price hedging, stable generation from hydroelectric and nuclear as well as higher wind energy output sent Vattenfall's EBITDA and profit up by one quarter in its 2019 annual report. Vattenfall celebrates the fine year and sends SEK 7.2 billion to Sweden's state treasury.
Much fell in place for Vattenfall during 2019. The Swedish state-owned utility, for instance, installed both Denmark's and Vattenfall's largest offshore wind farm, Horns Rev 3, and shut down a series of fossil-fired power plants in the Netherlands and Germany and decommissioned the domestic Ringhals 2 nuclear reactor.
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