First-quarter 2024 profits rose at Vattenfall due to higher prices in the Nordics and higher volumes from nuclear, wind and hydropower.
Although power prices fell in continental Europe, the Swedish utility achieved higher prices in the Nordics thanks to price hedges, which had a positive effect on results.
Net sales decreased by 21% to SKr76.50bn ($6.97bn) in the first quarter from the year-earlier quarter, but operating profit increased by 27% to SKr20.76bn,