The Annual Report describes the development of the Group in 2005. In his comments, the President and CEO, Lars G Josefsson, addresses electricity prices and the development of the European electricity market in a broader perspective.
He also takes up Vattenfall’s growth strategy and the major investments in co-generation and wind power in Denmark during the year, as well as Vattenfall’s commitment to the climate issue and to handling the greenhouse effect in a responsible way.
New items in the Annual Report for 2005 include the Board’s report on Internal Control and the special Corporate Governance Report, which contains a detailed description of how the owner exercises control of the Group. The section on Vattenfall’s investments in renewable energy has been expanded. The report also describes the European energy market, competition and pricing and the development of Vattenfall’s markets in the Nordic region, Germany and Poland. The Annual Report provides comprehensive information on Vattenfall’s financial results and also contains extensive information on the company’s strategy, organisation, governance and risk management. In line with Vattenfall’s ambition to demonstrate openness the Annual Report presents, as in previous years, information on remuneration, salaries and benefits for the Board, CEO and other senior executive managers and on incentive programmes for other executive managers and staff.
The report can be downloaded as a PDF file in Swedish from www.vattenfall.se and in English from www.vattenfall.com (the Swedish web version will be available on 31 March and the English version on 3 April). The printed version will be available on 10 April and can be ordered on www.vattenfall.se or from Vattenfall AB, 162 87 Stockholm, Sweden. Telephone: +46 (0)8-739 50 00, e-mail email@example.com.
For further information, please contact:
Martin May, Press Director, Vattenfall AB, telephone: +46 (0)8-739 52 70.
Klaus Aurich, Head of Investor Relations, Vattenfall AB, telephone: +46 (0)8-739 65 14.
From Vattenfall's Press Office, telephone: +46 8 739 50 10.