The Swedish state-owned power utility Vattenfall has released its 2024 results, posting a revenue of SEK246bn (€22bn, -15% compared to 2023) and profit of SEK33bn (€3bn, x3.3). The company’s power generation declined by 1% to 100 TWh (-1.3 TWh), mainly due to a lower thermal power generation (-4 TWh, -31%) related to the sale of a gas-fired power plant in the Netherlands and of heat operations in Germany; hydropower generation also declined by 3% (-1.4 TWh), but wind power generation rose by 3.6 TWh thanks to new capacity, mainly from offshore wind parks Hollandse Kust Zuid and Vesterhav.
Vattenfall's sales of electricity, including sales to Nord Pool Spot and deliveries to minority owners, fell by 5% to 160 TWh (-8% for sales to final customers to 116 TWh), while its sale of gas grew by 13% to 51 TWh. Vattenfall’ sales of heat decreased by 36% in 2024 to 9 TWh. New installed wind power capacity in 2024 amounted to 1,096 MW and is mainly attributable to Hollandse Kust Zuid (749 MW), Vesterhav (319 MW) and Windplanblauw (28 MW).