Sales save Fortum from summer drought

Finnish energy company Fortum's Q3 results have been hit hard by excessively warm summer of 2018, however, the results have been significantly improved by sales, ironically  involving sunlight. Fortrum's management is not ready to talk about efforts to improve the chilly relationship with the management of Uniper, its recent acquisition.

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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