Recovering power prices in the Nordic countries and returns from the Swedish nuclear waste fund contributed to rising profits at Swedish utility Vattenfall in the first quarter of 2021.

Wind power was, however, affected by unfavourable weather conditions and showed lower earnings despite new capacity.

Net sales decreased by 5% to SKr45.91bn ($5.50bn) in the quarter from a year earlier, but earnings before interest, taxes, depreciation and amortisation (Ebitda) rose to SKr17.74bn