Impairments push Vattenfall into 2016 loss
Swedish power company Vattenfall reported a fourth-quarter and full-year net loss on the back of low electricity prices and write-downs, press agency dpa reports. For the full year 2016, Vattenfall said its net loss was 2.7 billion euros, including the sale of its German coal operations that was completed in September, amid a shift to renewable sources, dpa said. “Significant progress was made during the year through the lignite divestment, the Swedish energy policy agreement and the German nuclear waste law resulting in a positive outcome for the company and our customers, together with a reduced risk overall,” said the company’s CEO Magnus Hall in a press release.
Read the press release in English here.