Press release | 2010-03-22 | 21:11 PM

Vattenfall welcomes the Government's clarification of the corporate assignment

Today the Government reached a decision on the Government Bill clarifying Vattenfall AB's corporate assignment. Vattenfall welcomes this clarification which is based on Vattenfall’s current international business activities.

The Government says that Vattenfall’s assignment is to be clarified in line with the following:

“Vattenfall shall generate a market rate of return by operating a commercial energy business that enables the company to be among the leaders in developing environmentally sustainable energy production.”

“We welcome the Government's clarification which makes it easier for us to fulfil the expectations that our owners have for our business,” says Lars Westerberg, chairman of Vattenfall AB.

 The new assignment statement omits the geographic limitation “Swedish” from our mission. Vattenfall is today a European energy company, and should operate in an exemplary manner regardless of the market the company is in.

The Government stresses that the threat of climate change is one of the biggest challenges facing us these days. Vattenfall will be up there with comparable European companies in leading the development of envi-ronmentally sustainable energy production. This will require large investments, and for that profitability will be a vital prerequisite. The starting-point for this change is Vattenfall’s international business and broad product portfolio. In that way, the challenge facing Vattenfall reflects the challenge facing Europe as a whole.

“We will judge all investments in the light of profitability and the possibility of achieving the EU’s 2020-objectives,” says Lars Westerberg.

For more information, contact:

Edvard Lind, Press Officer, tel +46 (0) 8-739 56 74, mobile +46 (0) 70-358 63 30

Issued by Vattenfall’s Press Office, Tel +46 (0) 8-739 50 10, press@vattenfall.com

Vattenfall's vision is to be a leading European energy company. Vattenfall's main products are electricity and heat. Today, Vattenfall generates electricity, produces heat and supplies energy to several million customers in the Nordic countries and northern Europe. The major customers are industrial plants, energy companies, municipalities, property companies and housing associations. For further information, please see www.vattenfall.com. The media service section, including a picture archive and Vattenfall's press releases, can be found under News & Comments.

 

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