Vattenfall is one of Europe's biggest retailers of electricity and heat and one of the largest producers of electricity and heat.
Vattenfall's main markets are Denmark, Finland, the Netherlands, Germany, the UK and Sweden. The Group has approximately 20,000 employees. The Parent Company, Vattenfall AB, is 100% owned by the Swedish state, and its headquarters are located in Solna, Sweden.
The world is in urgent need to find alternative, cleaner ways of powering and heating homes, industries and cities. Vattenfall is working to speed up and enable a climate-smart life. The following key market trends describe the transformation of the energy industry:
- From fossil fuels to renewables
A transformation from fossil fuels to renewables has been ongoing for many years, driven by climate change and growing environmental and sustainability demands from customers and society as well as greatly reduced costs of wind and solar power.
- Lean operations and digitalisation
As a combined effect of lower coal and gas prices, weak demand development, structural oversupply, strong growth in renewables and rapid technological development, wholesale electricity prices in our markets have more than halved over the past five years, and any recovery will at best come five to ten years in the future.
- From large-scale to more decentralised generation
Technological developments and the market's adaptation to small-scale generation have rapidly reduced the costs for consumers wishing to generate their own electricity or heat. Both households and industry are increasingly installing roof-mounted solar panels, small wind turbines and micro-CHPs.
- Electrification of everything
Roughly 70% of CO2 emissions in Sweden derive from heating buildings, transportation and industry. Electrification of these sectors is enabling fossil fuels to be replaced by renewable, climate-neutral energy.