How are you preparing for the evolution of the electricity system?
In the future, there will be distributed production, with consumers becoming producers. We already buy back electricity from our consumers with solar panels, when they have excess capacity. To make the whole system efficient, there will need to be an intelligent grid system that also includes possibilities for energy storage. In our R&D, we are putting more emphasis on renewable energy and storage capabilities.
“Sustainability is the foundation for running any energy business.”
Magnus Hall, President and CEO, Vattenfall
How important is government support to renewable energy investments?
For the foreseeable future, with wholesale prices as low as they are today and even with costs coming down considerably, political and monetary support for the industry will be crucial.
What are you doing to reduce the cost of wind power?
We are working very closely with turbine suppliers on the next generation of turbines. It’s a major focus of our R&D. There is also a lot that public authorities can do to improve the efficiency of tenders and auctions and to de-risk the whole operation
