Vattenfall to appeal against regulator’s ruling

Vattenfall Europe Transmission GmbH, the East-German transmission net operator in the Vattenfall Group, is to take legal action against a ruling by the German regulator Bundesnetzagentur, demanding the company decrease its net tariffs by 18.7 per cent.

Bundesnetzagentur disapproved certain cost items in Vattenfall’s calculation, the cost for network losses and balancing energy caused by the increased feed-in of wind power. According to the company’s calculation the tariff decrease would lead up to an annual cost burden of Euro 100m and put Vattenfall Europe Transmission into red figures. Last year the transmission business contributed with around Euro 80 million to the Group operating profit. “This ruling of Bundesnetzagentur is without legal basis and will not stand in court,” says Klaus Rauscher, Chairman of the Management Board of Vattenfall Europe. “The regulator’s calculation is inappropriate and economically unacceptable.” For further information, please contact: Martin May, Head of Media Relations Vattenfall AB, phone: +46-(0)8-739 52 70. Geraldine Schroeder, Head of Media Relations Vattenfall Europe, phone +49-(0)30-8182-2320 From Vattenfall's Press Office, telephone: +46 (0)8-739 50 10.