Helia, Danish subsidiary of Öresundskraft, made a giant loss. The former CEO is now singled out as the main character in the scandal. In a study speaks of unauthorized speculative, fictitious contracts and manipulated financial accounting. Öresundskraft will now make a report to the police and try to get back lost millions.
Today presented a review of Öresundskrafts loss of business in the subsidiary Helia. From left: Sven Rydstrom, (S), Anders Östlund, CEO Öresundskraft and Gustav Wiklund (MP). Anders Östlund call scandal for a big failure.
Anders Östlund, Öresundskrafts CEO, is one of the serious subjects in the energy company’s board on Thursday morning. During the press conference he said sentences like:
– I am extremely sorry for this. It is a big failure. Jädrigt I’m disappointed in myself for not cracked the code. I’m really omruskad.
The press conference is about municipal Öresundskrafts Danish subsidiary Helia. Last winter was revealed that Helia made a loss of $ 193 million.
– A frightful lot of money, as Anders Östlund puts it.
The municipal leaders sounded the auditing firm PwC conduct an independent evaluation.
It is now clear, PwC points out Helias former CEO as responsible and calls Öresundskraft to the police suspected crime and also take civil action.
There are now Öresundskraft to prepare.
– Our belief has been too great. It is extremely painful to a colleague betrayed a confidence that I had given him, says Anders Östlund, who also sits in the board of Helias.
– I am disappointed also with myself. It is a great failure that neither Helias board or auditors discovered this. But it was systematically uppriggat and not easy to see. We broke not the code that we had a rotten egg in the basket.
The investigation shows that Helia purchased more electricity for future deliveries than they got.
– Helia went far beyond the limits of what is allowed. The company has speculated that the electricity price would go up. It is a very risky strategy that goes totally against company rules, says Elin Ash, the city’s general counsel.
When the excess would be sold electricity prices had gone down, and the company then made a storförlust.Men not only that.
– When it started to derail the losses have been hidden. It has also signed fictitious contracts to lock in fictitious profits. It is quite sophisticated, says Anders Östlund.
Elin Ash adds:
– The accounts have been tampered with and Helias results were misleading for several years. There has been a widespread misdirection.
The former CEO, who ended last fall, had a moving part of their salary and earned at Helia went well. He will over the years received a total of 2.5 million Danish kroner due to it. Money that he would not be received if all goes right to, according to Anders Östlund.
Where then-CEO alone in this?
– There are indications that some more may be involved. But it may be the future police investigation show, says Elin Ask.
How much is reasonable to believe that you can get back at a lawsuit?
– It is impossible to say today. It must be analyzed more closely, says Elin Ask.
However, it is clear that Anders Östlund has continued trust of politicians. Although he sat in Helias board and was president of Öresundskraft during this period.
– I have full confidence in Anders. Of course we discussed it on the board and we agree that he is the right person to lead Öresundskraft says Gustav Wiklund.
The company’s vice president Sven Rydstrom (S) agrees: – I have great confidence in Anders . The trip Öresundskraft made under his leadership has been fantastic.
The local council also celebrates Anders Östlund.- He does a terrific job of Öresundskraft and we have confidence that he sorts out everything about Helia says Peter Danilsson (M ).
Helias great loss suffered by the parent company Öresundskraft.
– This corresponds to eight wind turbines, says Gustaf Wiklund (MP), Chairman of Öresundskrafts board.
But customers should do not suffer. Neither the owner of the city of Helsingborg.
– Öresundskraft can take this bang, there I want to emphasize, says Gustaf Wiklund.
Öresundskraft made despite Helias loss a profit of SEK 281 million for 2015 . the company was also able to distribute SEK 175 million to the owner, kommunen.Förutom the mentioned problems is another one. These Helias 300-400 customers, small and medium-sized enterprises.
– There have been errors in billing. Helia has made supplement that are not contractual. We will refund what has gone wrong, says Anders Östlund.
Öresundskrafts Board of Directors and the auditors of Helia also criticized the PwC study.
One consequence will be to all municipal company, Helsingborgshem and Port of Helsingborg, to be candled in the hope that similar scandals should not occur.
Or, as Anders Östlund puts it:
– Never again. It shall never happen again in our more companies.
HD has been in contact with Helia’s former CEO. He would not comment on whether the charges in general or specific tasks against him in the investigation.
Anders Östlund, CEO Öresundskraft, greets the press conference on Peter Danielsson (M), which was in place with Jan Björklund (S) and Palle Lundberg, Mayor.
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