The company also announced plans to split into separate Nordic and continental European units (the latter including the UK), and says it will trim its planned investments for the 2013-2017 period to SKr105bn from its previous target of SKr123bn.

But Vattenfall stressed that projects already approved will be prioritised with a continued focus on renewable energy.

“The new structure will allow the regions to focus on their respective core issues and will open up opportunities for risk-sharing in Vattenfall’s continental operations over time,” says chief executive Øystein Løseth.

The