business

Major profit boost for Vattenfall

Power company Vattenfall is paying out good profits to its owner, the state, but this has come at the cost of consumers facing high electricity prices.

Thursday's company report says profits of about a billion $US have been paid, a big increase from last years profits of about 800 million.

And Vattenfall's CEO, Öystein Löseth, says that many electricity consumers will benefit from this money, since it will become part of the state's budget.

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