Vattenfall Remains Committed to Climate Goals Despite Sharp Increase in Electricity Prices

Vattenfall Remains Committed to Climate Goals Despite Sharp Increase in Electricity Prices

(IN BRIEF) Vattenfall, a leading energy company, faced a challenging year in 2022 due to the war in Ukraine, which resulted in a significant increase in electricity prices across Europe. Despite this, Vattenfall continued to focus on supporting its customers and increasing investments for a successful energy transition and electrification. The company assisted its customers by providing advice on energy-saving measures and installment plans, and gained 400,000 new customers during the year. Vattenfall also remained committed to promoting sustainability and climate goals, such as reducing carbon dioxide emissions and delivering electricity from the world’s largest offshore wind farm. Additionally, Vattenfall initiated a study on building new nuclear power at Ringhals.

(PRESS RELEASE) STOCKHOLM, 29-Mar-2023 — /EuropaWire/ — Vattenfall, a Swedish government-owned multinational power company, faced a challenging year in 2022 due to the war in Ukraine, which resulted in a significant increase in electricity prices across Europe. Despite this, Vattenfall focused on supporting its customers and increasing investments for a successful energy transition and electrification.

The sharp increase in electricity and gas prices doubled in all of Vattenfall’s markets, creating a difficult situation for many customers. To assist its customers, Vattenfall provided advice on energy-saving measures and installment plans. In response, Vattenfall gained 400,000 new customers during the year.

Despite the challenging market conditions, Vattenfall continued to focus on the climate and energy transition. The company’s carbon dioxide emissions from its operations decreased, and several concrete steps were taken towards a fossil-free future, such as delivering the first electricity from the world’s largest offshore wind farm, Hollandse Kust Zuid in the Netherlands. Additionally, Vattenfall initiated a study on building new nuclear power at Ringhals.

Overall, Vattenfall remained committed to supporting its customers and promoting sustainability and climate goals throughout a difficult year.

“The energy transition can only take place if we all, business, as well as in politics, are pulling in the same direction. The solutions exist, we know what needs to be done, and in most cases the capital is also already there. Now we just need to accelerate the pace,” says Vattenfall’s CEO and President Anna Borg.

Some facts from the Annual and Sustainability Report 2022:

  • 400,000 new customers have chosen Vattenfall.
  • CO2 emissions from our own operations has been reduced by 51 percent between 2017 and 2022.
  • 31 billion was invested, of which 90 percent was eligible and aligned with the EU taxonomy regulation. Wind power accounted for 54 percent of the investments, the electricity grid 18 percent and nuclear power 6 percent.
  • 92.6 TWh fossil free electricity was generated.
  • The capacity of renewable electricity is now 4.5 GW, an increase by 1.2 GW since 2017.

Read Vattenfall’s Annual and Sustainability Report 2022 here:

Vattenfall ASR 2022

For further information, please contact:

Johan Sennerö, press officer +46-73 046 40 45

Johan.senneroe@vattenfall.com

This information is such that Vattenfall AB is required to make public in accordance with the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10.00 CET on March 29 2023.

SOURCE: Vattenfall AB

MORE ON VATTENFALL, ETC.:

Follow EuropaWire on Google News
EDITOR'S PICK:

Comments are closed.