Annual Report 2005
Summary
2005 was a new record year for Vattenfall. Good water supply in Sweden combined with our generation mix produced high volumes at low cost. The goals we set at Group level have been attained and most of our operations reported improved financial performance. We have also benefited from higher wholesale electricity prices and improved hedging results. The European trading system for emission allowances, introduced in January 2005, has functioned well, but due to high oil and gas prices, emission allowance prices have remained much higher than many analysts expected. During the year, Vattenfall established an important position in combined heat and power and wind power in Denmark. Strategically, the acquisition in Denmark is an important one, and means that our core business of electricity generation and our operations in the Nordic countries are strengthened while also providing increased opportunities for cross-border trade between the Nordic countries and Germany.
The report section by section
Annual Report 2005-CEO (PDF 86 kb)
Annual Report 2005-Year In Brief (PDF 145 kb)
Annual Report 2005-Strategies (PDF 53 kb)
Annual Report 2005-World (PDF 1086 kb)
Annual Report 2005-Markets (PDF 499 kb)
Annual Report 2005-Employees And Competence (PDF 61 kb)
Annual Report 2005-Governance (PDF 182 kb)
Annual Report 2005-Internal Control (PDF 43 kb)
Annual Report 2005-Board Management (PDF 138 kb)
Annual Report 2005-Risk (PDF 89 kb)
Annual Report 2005-Administration (PDF 187 kb)
Annual Report 2005-Consolidated (PDF 1729 kb)
Annual Report 2005-Parents (PDF 536 kb)
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