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28 July 2008 - A decision by Vattenfall, Germany's fourth electricity supplier, to sell off its high-voltage grid was welcomed in Brussels where the European Commission has been leading calls for companies to surrender their transmission assets as a way to bring more competition to the market.
Vattenfall Europe AG, the German subsidiary of the Swedish energy group, said it will contact potential acquirers "in the next few days" for its high voltage transmission system operator. The deal is to be completed "by the end of the first half 2009 at the latest", the company said in a statement.
"The background to this decision is formed by the political debate that has been going on for months and concerns ownership unbundling of the power generators and the high-voltage grids," the company said.
Vattenfall's announcement was welcomed by Energy Commissioner Andris Piebalgs who said it was "perfectly in line with the letter and the spirit" of its proposals to further liberalise the energy market, put forward in September last year. "I am convinced that selling the transmission network will benefit both consumers and electricity companies with more competition and freedom of choice," Piebalgs said.
The Swedish energy group said it was looking for investors which could "ensure substantial investments in network extension, and promote European integration of the electricity market by continuing to guarantee non-discriminatory grid access."
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