Vattenfall restructures its German hydro power division for the future
Vattenfall has presented a comprehensive restructuring program to bring its German hydro power division back into profitability. According to the program, 2,500 MW of the currently operated 2,800 MW hydro power capacity are planned to stay in operation. The measures of the program are to be implemented by the end of 2019 and include a significant reduction in the number of jobs.“Due to the price development on the German electricity market and the regulatory framework for existing storage facilities, Vattenfall’s pumped storage power plants have been under considerable economic pressure for