Swedish state-owned energy firm Vattenfall, which bought Dutch power company Nuon last year, is to slash costs and investments in a major strategy revamp.

According to the Financieele Dagblad, the revamp means Nuon will lose its independence, as the company switches from a country focus to an activity-based organisation.
The paper also says Vattenfall is to focus on investments in clean energy in its three core markets of Sweden, Germany and the Netherlands. This approach includes nuclear power, the paper said.