Sweden’s Vattenfall could lose power grid contract in Berlin, Germany

Swedish electric power company Vattenfall could potentially lose its contract to deliver electricity to Berlin, Germany. The future of Vattenfall’s relationship with Germany’s capital could go either way, depending on the results of an upcoming vote.

Berlin voters are holding this electoral referendum after the residents of Hamburg, Germany voted to return the Vattenfall-run power grid to public ownership.

Choosing to bring Berlin’s power grid under public control would require the creation of a new utility. The initiative is called the Berliner Energietisch, and would take control of the grid in January 2015.

Profits from running the Berlin power grid amounted to $207 million in 2012, according to the initiative.

Supporters of the initiative said they want a power company that invests in local, German-made renewable energy. Vattenfall is reliant on mostly nuclear power and coal-fired power.

Opinion polls show about 60 percent support in favor of creating the new utility.

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