Vattenfall faces huge financial challenges at the same time as demands are being made that the business should be sustainable, writes Magnus Hall, CEO of the Swedish state-owned utility, in Dagens Industri ahead of today’s AGM.
Outlining the strategic focus that will make Vattenfall competitive and at the fore of the energy shift, Hall also notes that Germany’s energy mix is a matter for German politicians, it is not a matter for Vattenfall or Swedish politicians. Furthermore, it is uncertain whether the closure of Vattenfall’s lignite business in Germany would lead to a significant reduction in Europe’s carbon emissions. There is a risk that Germany would need to import fossil fuel from its neighbours. Instead, the best way of reducing carbon emissions at EU-level would be to strengthen the emissions trading system, he says.