EnergyWatch

Norway rejects increased speculative trading control

While Statkraft delivered excellent quarterly results, the state-owned company lost nearly NOK 4bn on speculative electricity trading. The lack of transparency in such trading has received criticism from several energy experts, but the state is against heightened control.

Statkraft's Roan wind park in Norway. | Photo: Statkraft / Ole Martin Wold

Statkraft's most recent quarterly report ended up showing an operating result of NOK 4.6bn – proof that the catastrophic year of 2020 no longer weighs on the state-owned power company.

The excellent operating results are mainly driven by record-high electricity prices, but while the power rates benefited the bottom line, it threw shade on other aspects of the company, more specifically the Market Operations division, which presented a herostratic deficit of NOK 1bn.

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