Boss of Vattenfall on how the Swedish utility giant is making green energy pay

By District Energy posted 10-22-2018 09:56

  

Jillian Ambrose, The Telegraph

Summary

The boss of Sweden’s largest utility appears too tall for the cramped central London meeting room he strides into. Magnus Hall, chief executive of Vattenfall, seems better suited to more expansive horizons; softly rolling hills perhaps – or cold, bright seascapes.

He folds long limbs into a chair, leans down onto the table and smiles through Nordic blue eyes. There is nothing in his demeanour to suggest an impending power play but make no mistake, that is what’s on his mind.

Vattenfall, which means waterfall in Swedish, is a state-owned energy company which has existed for over a century, with a firm grasp of the Swedish, Dutch and German markets. It may have a long history in hydroelectric power but in the last few years it has invested about £3.5bn into the UK’s booming wind-power market.

Its turbines tower over land and sea, generating enough electricity to power 700,000 British homes. For now, though, Vattenfall provides its low-carbon electricity to British companies through the supply business it set up in the UK last year. Powering British homes comes next.

“The change in Britain’s energy system will involve customers much more in the future, so the retail business is the one which brings possibilities for new growth,” he says. 

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