Swedish utility Vattenfall's Q4 profits fall

Underlying operating profit at the customer and solutions unit decreased, mainly driven by lower wholesale market prices, Vattenfall said. Similarly, lower Nordic power prices and a negative hedging effect for its continental power generation impacted earnings at the power generation unit, it said. Vattenfall achieved a price of 42 euros per megawatt hour (MWh) for its Nordic power production in the quarter, down from a year-earlier 55 euros/MWh.

Swedish utility Vattenfall on Tuesday reported a fall in underlying operating profit for the fourth quarter, citing negative contributions from its power generation and customer solutions business.

Underlying earnings before interest and tax at the state-owned energy group fell to 4.5 billion crowns ($421.59 million) from 12.5 billion crowns a year earlier. Underlying operating profit at the customer and solutions unit decreased, mainly driven by lower wholesale market prices, Vattenfall said.

Similarly, lower Nordic power prices and a negative hedging effect for its continental power generation impacted earnings at the power generation unit, it said. Vattenfall achieved a price of 42 euros per megawatt hour (MWh) for its Nordic power production in the quarter, down from a year-earlier 55 euros/MWh. ($1 = 10.5672 Swedish crowns)