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Nuclear utility Vattenfall in crisis – third consecutive annual loss

doom and gloomNuclear tax and low prices continue to impact Vattenfall, World Nuclear News, 04 February 2016 Swedish utility Vattenfall has announced a loss of SEK19.8 billion ($2.4 billion) in 2015, its third consecutive annual loss. It attributed this partly to continued low electricity prices and unprofitable Swedish nuclear power reactors…….

Vattenfall CEO Magnus Hall said, “The major challenge in 2015 continued to be the impact that today’s very low electricity prices have on Vattenfall’s profitability and the valuation of our assets. Unfortunately, combined with new regulatory requirements, this led to further write-downs, mainly on the values of Swedish nuclear power and German lignite in the summer.”

He added, “Continued falling prices and a nuclear tax corresponding to SEK0.07 per kilowatt-hour have put Swedish nuclear power in a critical situation…….http://www.world-nuclear-news.org/C-Nuclear-tax-and-low-prices-continue-to-impact-Vattenfall-0402164.html

February 8, 2016 - Posted by | business and costs, Sweden

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