Vattenfall

Vattenfall AB is a Swedish energy company and one of the leading - claims to be the fifth largest - power producer in Europe. The name comes from the Swedish Vattenfall, meaning " waterfall" and is an abbreviation of the original name Kungliga Vattenfallstyrelsen ( German: royal waterfall authority ). Vattenfall AB is wholly owned by the Swedish state.

In Germany, Vattenfall is active through its subsidiary Vattenfall GmbH and (after E.ON, RWE and EnBW), the fourth largest energy company.

• 6.1 Criticism of the Vattenfall GmbH ( Germany )

Executive Group Management

• Øystein Løseth (CEO)
• Ingrid Bonde ( CFO)
• Tuomo Hatakka ( Head of Production)
• Peter Smink ( Head of Sustainable Energy Projects )
• Stefan Dohler ( Head of Asset Optimisation and Trading )
• Olof Gertz ( Head of Human Resources )
• Anders Dahl ( Head of Distribution and Sales )
• Torbjörn Wahlborg ( Head of Nuclear Power)
• Anna Gynnerstedt ( Head of Legal )

Since 2014, Vattenfall AB is divided into two geographically separate parts of the group. Torbjörn Wahlborg passes the part Nordic and Tuomo Hatakka the part of Continental Europe / UK.

Company data

The company operates across Europe and has as parent company subsidiaries in Germany ( Vattenfall GmbH ), the Netherlands (NV Nuon Energy ) and Denmark ( Elsam ). The Vattenfall Group is (as of 2011) one of the largest electricity and heat in Europe.

• Net turnover: 167 313 000 000 Swedish crowns ( SEK ) (2011: 181.040 )
• Net profit after tax: SEK 17.224 billion ( 2011:10,416 )
• Customers: 13 million

• Electricity generation: 178.9 TWh per year ( 2011: 166.7 )
• Heat generation: 30.3 TWh per year ( 2011: 41.0 )

• Employees: 32,794 (2011: 34,685 )

(State of the data: 31 December 2012)

The Group History

The roots of Vattenfall date back to 1899. On the initiative of the Swedish Parliament, the energy of Trollhättan Waterfall should be used more. In the course of maintenance work, the idea of an electric use came up. Beginning of the 20th century took the project to take shape. In 1909, the " Kungliga Vattenfallstyrelsen " was ( the royal Waterfall Commission ) in order to work more on the electrical use of water power. This year will be seen as the birth of the later Vattenfall Group. At that time, the company was supplying mainly industrial customers. Until the 1920s, individual electrical networks were built and successively linked to each other -. Statewide unit to power in 1952 In 1951, the first major power plant was inaugurated after the Second World War. The power consumption in Sweden increased during this period permanently. So were heard since the late 1940s voices calling Sweden's entry into the nuclear power generation. The first experimental reactor in 1954 was taken at the Royal Technology Institute in Stockholm in operation. In Ågesta Vattenfall built a hot- water reactor - among other things, to generate electricity. Plants, the plant was with unangereichertem uranium. During the 1960s, the activities have been scaled back to enhance the use of alternative energy sources by Vattenfall. In return, the company continued to nuclear energy, and built during the 1970s the number of nuclear power plants from resistant. The possible end of growth in Sweden was calculated by the 1980s. The opening of various national energy markets in Northern and Central Europe led to the expansion Vattenfall - including the UK, Norway and Germany. During the 1990s, the Swedish company expanded in countries in North and Central Europe. This was made possible by the liberalization of national electricity grids.

Expansion phase in Europe (2002-2009)

2002 Vattenfall acquired shares in the power company Hamburg Electricity, the United Energy AG which includes the Lusatian lignite mining company AG. Together with the acquirer's interests in 2003 Berlin Bewag merged these companies for Vattenfall Europe AG. The merger was Vattenfall ( by E.ON, RWE and EnBW) the fourth largest German electricity company. The brands HEW and Bewag were retained after the merger until 2006. 2006 was resolved at the Annual General Meeting of Vattenfall Europe, the exclusion of minority shareholders by means of a squeeze-out. The transfer of shares from minority shareholders of Vattenfall Europe to the Swedish parent company was terminated with the entry in the Commercial Register of Berlin on 21 April 2008 and the listing of the Group adjusted it.

As of 2009, Vattenfall, the Dutch energy company Nuon started gradually ( turnover 6.1 billion Euro/2008 ) to take over at a cash price of 9.86 billion euros. First, the acquisition of 49 % of the shares was realized with the acquisition of operational management. More shares were acquired within the following years. Previous shareholders of Nuon were Dutch cities and provinces. The power range of Nuon is not affected by the operation. He was separated from Nuon under the state unbundling in July 2008 and is operated in the independent network company Alliander. Vattenfall intention to expand in the Benelux countries further through a representative, the acquisition of Nuon his current position in the European energy sector. Previously, Vattenfall had unsuccessfully applied for the acquisition of Essent. The transaction should also improve the so far less pronounced development of gas activities of Vattenfall and allow the position as the largest provider of offshore wind turbines. In the years 2012 and 2013 it was announced that Vattenfall makes depreciation totaling almost 40 % of the enterprise value of Nuon due to the now difficult business environment for gas - fired power generation. Due to the highly rated than the purchase price of the Nuon acquisition was heavily criticized in the Swedish press in 2013 in retrospect.

Difficulties in the European core business

From the mid- 2000s, the market environment in Vattenfall's core businesses, electricity, gas and heat production, especially on the European mainland, designed increasingly difficult. The traditional business model of base-load electricity production suffered from the increasing role of renewable energy and associated lower prices on wholesale electricity markets. Also made ​​the nuclear phase-out in Germany and the lack of efficiency of gas-fired power plants under high gas prices to create the group. End of 2012, the corporate financial objectives on the part of the Swedish government were eased at an extraordinary general meeting. The resolved for January 2014 splitting the group into a northern part and a continental European part review some analysts as a precursor to a partial or complete withdrawal of Vattenfall AB from the lignite in Germany. At stake now is also the Group's commitment in network operation of district heating and electricity distribution networks in Hamburg and Berlin. Although not entirely voluntary, Vattenfall agreed as a result of a referendum with the city of Hamburg in early 2014 on the outright sale of the electricity distribution system and the optional sale of the district heating network of the Free and Hanseatic City of Hamburg. On Power and district heating network in Berlin, the Group intends to continue to hold after the local referendum on remunicipalisation 2013 just failed at attaining the quorum.

Commitment in the fields of renewable energy and emissions reduction

2012 was before the Swedish government Vattenfall, in the future to focus on renewable energy and less on electricity from coal and nuclear power. Sustainability goals require Vattenfall a reduction in carbon dioxide emissions by 2020 to 65 million tonnes ( 2010: 94 million tonnes). Against the background of this sustainability objective in early 2013 was publicly offered the lignite power plant lip village. In this context, the efforts Vattenfall are seen to bring the technology of CO2 capture and storage technologies to market. Vattenfall had originally planned on a new lignite-fired power plant at the power station in Brandenburg Jaenschwalde a project for CO2 capture and storage. These plans, however, were discontinued in December 2011. Since the early 2000s, the Group invested in various large-scale projects in the field of offshore wind energy. This includes about Vattenfall's investments in the German North Sea wind farms DanTysk (288 MW) and alpha ventus (60 MW) as well as in numerous British projects. While Vattenfall has folded in Germany up to a 20% minority stake in Brokdorf out of nuclear power production in the Swedish business, nuclear power will continue to pursue as a low-CO2 options in achieving sustainability goals. Result Open consultations and investment planning for lifetime extension of nuclear power plant Ringhals located in 2014 in the early stages.

Power generation

In Sweden, Vattenfall AB Exercises half each nuclear power and hydroelectric power generation.

In Germany, the Group-wide electricity mix was, according to current labeling in 2010:

• Renewable energy: 35.2 %
• Fossil energy: 59.7 %
• Nuclear Power: 5.1%

The distribution of energy International ( 2012)

• Fossil fuel: 46%
• Nuclear Energy: 27%
• Hydropower: 24%
• Wind and biomass: 3%

Power plants

→ see Vattenfall ( Germany )

Criticism

Criticism of the Vattenfall GmbH ( Germany )

Sponsoring

Vattenfall is engaged worldwide in the sport. Vattenfall is the official partner for the International Ski Federation in the field of ski jumping, downhill skiing and cross country skiing as well as for the World Childhood Foundation. In Germany, Vattenfall promotes, among other football club Energie Cottbus, the handball player from HSV Hamburg or the basketball team Alba Berlin. In addition, Vattenfall appeared as one of the main sponsors for the Alpine World Ski Championships 2011. At the Four Hills Tournament 2011/12, Vattenfall will continue to expand its involvement in ski jumping. The International Stadium Festival ISTAF was temporarily also financially supported by Vattenfall Vattenfall since 2012 but has pulled out of the sponsorship of the event.