The Sun's rays were both friend and foe for Finnish energy company Fortum's Q3 interim report.
In part, this year's hot and dry summer starved the company's water reservoirs and led to record-low power generation – similar to what other hydroelectric operators in the region reported. Even so, Fortum was able to exploit the situation and realize higher sales prices, but that was not enough to offset the decline in production. The company's adjusted operating result thus declined by 33 percent to EUR 70 million.
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