Vattenfall sticks to contentious Moorburg coal plant
Swedish utility Vattenfall will not sell its financially struggling Moorburg coal plant in Hamburg despite revamping its business model towards more renewable energy sources and digitalisation of the energy system, Björn Hartmann writes in Hambuger Abendblatt. Moorburg was critical for supply security in northern Germany, Tuomo Hatakka, the head of Vattenfall Germany, told the newspaper. Hatakka said “it is a fact that Moorburg is not going to be a good investment for Vattenfall”. But he added he was confident the plant could be run at a profit once the row with the European Court of Justice over lacking environmental standards was over and power prices picked up.
Read the article in German here.
For background, see the CLEW dossier Utilities and the energy transition.