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Vattenfall profits surge in 2023 despite lower electricity prices

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Vattenfall profits surge in 2023 despite lower electricity prices | Windpower Monthly

Vattenfall profits surge in 2023 despite lower electricity prices

Vattenfall saw its net profits surge in 2023 despite lower electricity prices hitting its operations in Europe, including from its wind power division.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.

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