vattenfall

Reported National Grid Sell-Off Denied

Updated 1:18 PM

The Swedish state-owned power company Vattenfall has denied reports it plans to sell off its entire Swedish power network. According to TV4 News, internal company documents indicated that Vattenfall planned to use the profits from such a sale to invest in nuclear power plants in Britain.

 The story led to strong reactions from the political opposition here. The Left Party says that if the story is true, Vattenfall’s CEO should resign immediately. The Social Democrat’s economic spokesman says it would be completely unacceptable to privatize such important national infrastructure. Earlier Mats Eriksson from Swedish Radio News spoke to Radio Sweden's Azariah Kiros about the issue.

Following the report, Vattenfall’s Senior Executive Vice President Hans von Uthmann annouced his resignation. TV4 News says that according to their sources this comes because von Uthmann opposed selling the Swedish electrical network. Vattenfall’s press spokesman denies, however, any connection.

Now the chairman of Vattenfall's board of directors Lars Westerberg admits to Swedish Radio News that the idea has been discussed by its board. But, he says, no decision has been made.

Nearly 850,000 Swedish households are connected to Vattenfall’s network.

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