Swedish state owned Vattenfall divides the organisation in two parts, one continental Europe and one för Scandinavia. This opens up for cooperation in the coal, gas and Nuclear operations in Germany and the Netherlands
Swedish state owned Vattenfall divides the organisation in two parts, one continental Europe and one för Scandinavia. This opens up for cooperation in the coal, gas and Nuclear operations in Germany and the Netherlands

Vattenfall makes substantial impairments and divides the company

Swedish utility Vattenfall splits up its organisation into a Nordic unit and a continental European unit. This is one of several measures taken in response to developments in the European energy market. Vattenfall is also writing down SEK 29.7 billion of the value of the company’s assets as a consequence of market development and higher business risks.

The write-downs carried out in the second quarter mainly concern:

  • Gas and hard coal-fired power plants in the Netherlands: SEK 14.5 billion, (Nuon)
  • Hard coal-fired power plants in Germany: SEK 4.1 billion,
  • Combined heat and power plants in the Nordic region: SEK 2.5 billion,
  • Goodwill originating mainly from our trading operations: SEK 6.8 billion,
  • Other assets: SEK 1.8 billion.

Visit Vattenfall for more info: http://www.vattenfall.com/en/pressreleasedetailhidden.htm?newsid=ADED2242861F4983B25AD9BBD14EDFFB

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