Vattenfall AB Annual and Sustainability Report 2022 (6140U)

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RNS Number : 6140U

Vattenfall AB

29 March 2023

Vattenfall's Annual and Sustainability Report 2022:

Focus on energy transition and to support customers in a demanding time

In 2022, the energy market was marked by the war in Ukraine, which led to a sharp increase in electricity prices throughout Europe. Vattenfall has focused on supporting its customers during a very tough time for many, while at the same time the company has continued to increase investments to succeed with energy transition conversion and electrification.

Prices on electricity and gas doubled in 2022 in all of Vattenfall's markets, leading to a very difficult situation for many customers. Vattenfall has therefore supported its customers with advice on energy saving measures, installment plans and more. More and more people have chosen Vattenfall in these uncertain times and during the year 400,000 new customers have been added.

Vattenfall has also maintained focus on the climate and the energy transition. Carbon dioxide emissions from Vattenfall's own operations continued to decrease, and during the year several concrete steps were taken on the road to a fossil-free life. For example, the first electricity was delivered from what will be the world's largest offshore wind farm, Hollandse Kust Zuid in the Netherlands. Vattenfall has also initiated a study on building new nuclear power at Ringhals.

"The energy transition can only take place if we all, business, as well as in politics, are pulling in the same direction. The solutions exist, we know what needs to be done, and in most cases the capital is also already there. Now we just need to accelerate the pace," says Vattenfall's CEO and President Anna Borg.

Some facts from the Annual and Sustainability Report 2022:

   --      400,000 new customers have chosen Vattenfall. 
   --      CO2 emissions from our own operations has been reduced by 51 percent between 2017 and 2022. 

-- 31 billion was invested, of which 90 percent was eligible and aligned with the EU taxonomy regulation. Wind power accounted for 54 percent of the investments, the electricity grid 18 percent and nuclear power 6 percent.

   --      92.6 TWh fossil free electricity was generated. 
   --      The capacity of renewable electricity is now 4.5 GW, an increase by 1.2 GW since 2017. 

Read Vattenfall's Annual and Sustainability Report 2022 here:

Vattenfall ASR 2022

For further information, please contact:

Johan Sennerö, press officer [phone]

[e-mail]

This information is such that Vattenfall AB is required to make public in accordance with the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 10.00 CET on March 29 2023.

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March 29, 2023 04:13 ET (08:13 GMT)