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Vattenfall is fully state-owned anyway.

• actionfromafar 3y ago
  Vattenfall invested heavily (hugely) in German brown coal, then shelved it. Swedish tax payers effectively accelerating German energy off brown coal. In the greater scheme of things, not sure what to think of it, but as an investment, it was pretty bad.
  • fifilura 3y ago
    Yeah they also invested in Dutch natural gas which was a catastropic deal. I think the relationship between the government and Vattenfall is heavily regulated so that they can't micromanage and have to set high profit goals for the company. It is probably required so that it does not interfere with market economy.
    • actionfromafar 3y ago
      Articles at the time seem to disagree about the "without political oversight" part, focusing on the political nature of the decision: https://www.svt.se/nyheter/lokalt/vasterbotten/olofsson-varnades-for-nej-till-nuon https://www.svt.se/nyheter/lokalt/vasterbotten/olofsson-varn... They might have invested in nuclear if they didn't buy coal, couldn't have that. Also, I think the largest cash deal in Swedish history is something that is just moving along together with the new coffee machine for the lobby, without political oversight. The decision also went by the prime minister, although he at first disputed it: https://sv.wikipedia.org/wiki/Maud_Olofsson https://sv.wikipedia.org/wiki/Maud_Olofsson https://www.svd.se/a/Rxl708/drev-igenom-tva-av-sveriges-absolut-samsta-affarer https://www.svd.se/a/Rxl708/drev-igenom-tva-av-sveriges-abso... https://www.svt.se/nyheter/inrikes/olofsson-vagrar-svara-pa-fragan-vem-visste-vad https://www.svt.se/nyheter/inrikes/olofsson-vagrar-svara-pa-... https://sverigesradio.se/artikel/5861519 https://sverigesradio.se/artikel/5861519