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E.ON see more profit in Sweden

Germany’s E.ON AG expects 2007 profits in Sweden to exceed the 5 billion krona ($778 million) recorded last year, Haakan Buskhe, head of the company’s Nordic operations, told local Dagens Industri Wednesday.

“The prospects look very good for E.ON Sweden, which is well managed and stands very strong. And the profit will probably rise further in 2008,” he said. E.ON plans to invest around 50 billion krona in Sweden between 2007 and 2013, of which 37 billion krone (about $5.76 billion) will be invested in nuclear power, Buskhe said. The company will also invest 7 billion krona in biofuel-driven power plants and “a number of million” Swedish crowns in wind power. In total, the investments will increase E.ON’s annual energy production by 8.5 terrawatt hours. (Marketwatch)