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Vattenfall hit by German plans

Plans to bring forward the closure of a nuclear plant in Sweden and poor earnings in fossil fuel plant in Germany mean Vattenfall wrote down SEK36.3 billion (£2.7 billion) in the second quarter of 2015, the company announced

Plans to bring forward the closure of a nuclear plant in Sweden and poor earnings in fossil fuel plant in Germany mean Vattenfall wrote down SEK36.3 billion (£2.7 billion) in the second quarter of 2015, the company announced in its 2H ­trading statement. Operating profit in the quarter fell from SEK3.8 billion (£280 million) to SEK2.8 billion (£210 million). But the company warned of lower earnings in future as long-term supply contracts were coming to an end amid falling prices.

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