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The last couple of days the following has happened with Vattenfall:

  1. a leak claimed that Vattenfall planned to sell its part of the swedish grid (and that is a large part) to finance buying brittish nuclear.
  2. protests ensued from the greens and the union. The union rep called it "a hole in the head to even consider that".
  3. Maud Olofsson, relevant minister, has declared that such a deal could not go forth without the owner (which would be the swedish government) approving it. And that they will not approve it.

Would not be surprised if the CEO of Vattenfalls resigns soon.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
by A swedish kind of death on Wed Nov 11th, 2009 at 05:55:19 PM EST
[ Parent ]
I hope so. Vattenfall has been run in a bad way for the last 10-15 years. Just compare it to Statkraft or Fortum. There's a pretty credible conspiracy theory that Vattenfalls management is behaving in this way so they can list themselves on a stock exchange. To enrich the management probably. This is also linked to the deregulation of the power market and the slipping in nuclear safety standards.

I have a to do-list for Vattenfall, which pretty much means rolling back all their idiocy.

  • Sell the coal mines and coal power stations in Germany and Poland.

  • Stop the €10 billion aquisition of Dutch fossil fuel utility Nuon.

  • Use all the money to reduce Vattenfalls €15 billion debt.

  • Buy hydro, wind and nuclear facilities in Sweden, Norway and Finland, as well as construct new ones.

  • Be a price leader in pushing down power prices in the Swedish market.

  • If there are no profitable project to be found, send the surplus cash as a special dividend to the government.


Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Thu Nov 12th, 2009 at 02:27:23 AM EST
[ Parent ]
Furthermore, the CEO's second in command, Hans von Uthman, has very recently resigned, allegedly because he very strongly didn't agree with selling the grid.

Even further, it's not clear if they want to take part in the new British nuclear projects (kinda ok with me) or buying the old shitty UK gas nukes from EdF (terribly stupid).

So, who to blame. The management of Vattenfall obviously, but also the extremely weak owner, the Swedish state, both during the current government but especially during the former soc-dem government who were happy as long as the dividends rolled in.

Also, today the CEO of Vattenfall published an Op-ed in Sweden's no.1 paper where he claims:

  1. Vattenfall is in a crisis of trust.
  2. There have been issues with nuclear safety.
  3. They still consider selling the grid.

RESIGN!

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Thu Nov 12th, 2009 at 02:35:21 AM EST
[ Parent ]

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