Swedish state-owned energy company plans to abandon polluting power plants
According to a report in the Swedish "Industry Daily" on September 16, the Swedish state-owned energy company Vattenfall is planning to sell power plants in five European countries that it believes to be polluting. The company announced that in accordance with a new cost reduction strategy plan, the annual company operating costs will be reduced to 6 billion Swedish kronor, which will greatly reduce investment and withdraw assets from some countries. However, this new strategy does not seem to be implemented straightforwardly. The company's CEO Mr. Osten said: "We will only consider selling if business conditions are met and feasible." Although the government, opposition groups, and environmental groups welcome this new strategy and believe it is the first step in the right direction, the Green Party insists that maintaining polluting coal-fired power plants in Germany is a huge mistake.
It is also reported that Great Falls Power Company will focus on wind power generation in the UK.
Great Falls Power Company is an energy company wholly-owned by the Swedish state and the fifth largest energy company in Europe. At present, 80% of Great Falls Energy’s sales come from Sweden, Germany and Poland. 46% of the electricity it produces comes from fossil fuels, 26% comes from nuclear energy, 24% comes from water power, and 1% comes from wind power. Approximately 6 million customers in Northern Europe.