Vattenfall CEO Anna Borg said the energy industry should brace for “domino effects” from a slew of elections around the world in 2024 and insisted the Swedish utility remains committed to offshore wind, despite its exit from the giant Norfolk Zone UK projects.

Presenting Vattenfall’s 2023 results, Borg claimed the group had managed to steer a path “through the turmoil of last year and the year before” but warned: “I’m not sure we will see any major improvements in the geopolitical situation, so the uncertainty from there will also still be there.