• Sweden edition

Green Party favours selling parts of Vattenfall

Published: 18 Jun 2010 17:14 GMT+02:00
Updated: 18 Jun 2010 17:14 GMT+02:00

Eriksson think that the government's purchases of coal and gas power plants have been devastating for Vattenfall.

"Now it's a cash cow that has suddenly become a problem instead and has difficulties with profitability," Eriksson said in an interview with news agency Nyhetsbyrån Direkt.

"Vattenfall is a major problem today and I do not know how we can get this enterprise to function long term again and contribute to a green shift. There must be a goal instead of all profits being invested in coal and gas."

Last week, Financial Markets Minister announced that the Christian Democrats believed the government should continue selling off state-owned companies. Companies on his list included SAS, TeliaSonera, Nordea, Vattenfall, SBAB, Posten Nordic, Lernia, Sweroad and Arbetslivresurs.

He added that the state had been able to reduce its indebtedness sharply with the sales it has made since the 2006 elections.

Regarding Nordea, Eriksson said it is fundamentally important that the state own a part of a bank, but he wants the state to keep SBAB because it continues to play a role in price squeezing.

Eriksson added in does not believe it is a good idea to buy back Apotek with government funds, something that Left Party leader Lars Ohly wants.

"I think generally that companies need profits to survive," said Eriksson. "However, I think we need to look at reform to see how it works. One problem is that prices have increased."

In terms of Vattenfall, Eriksson said he would be willing to sell any part of its coal and the international holdings, but added it must also be considered in light of what makes long term sense.

"The goal must be to make Vattenfall a profitable enterprise again that can contribute to the green shift," he said.

The Local (news@thelocal.se)

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Your comments about this article

14:23 June 19, 2010 by Mb 65
Once they sell off these company's most probably to the french. Their prices will zoom up at the speed of light just as they did in England. the french have already bought Absolute vodka. Once you have sold the family silver you have nothing. Surely Sweden can see what happened in England , electric and water prices went through the roof. it's the same with Sweden joining the Euro. Surely they can see what is happening to the Euro countries now, so they should stay out.
07:52 June 21, 2010 by sweco1
That is right no price controls if sold off.

Competitive contracts to service the properties.

But don't sale the farm!

The Green party in Sweden and Finland are very very dirty.

Perception deception!
07:53 June 21, 2010 by Angst
Vattenfall electricity prices in Sweden have already gone through the roof.

More significant, this is the way the Swedish Government will indirectly subsidise nuclear power by using Vattenfall's already huge profits. So we can expect electricity prices to keep rising. As a result, taxpayers will have to pay twice for nuclear power: once through high prices and again through Vattenfall's (i.e. taxpayers') profits.

I guess this was the reason for the Green Party proposal to privatise Vattenfall.
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