EnergyWatch

Statkraft benefits from higher power prices

Nordic electricity prices have gone up by more than 75 percent, causing the Norwegian utility to go forward despite fluctuating generation.

Norwegian utility Statkraft has succeeded in improving its top line in the third quarter following a weaker period. Revenue landed at NOK 14.9 billion (EUR 1.57 billion), 10.1 percent higher than the same period last year, which raises the bottom line for the first three quarters of 2018 up to a level comparable to 2017. The utility is also able to present earnings before interest and taxes totaling NOK 2.679 billion against NOK 1.437 billion in Q3 from 2017, the company informs in its third quarter interim report Thursday morning.

"Statkraft had a strong underlying cash flow operating activities. This provides Statkraft with a robust foundation for the planned growth in renewable energy," writes Statkraft CEO Christian Rynning-Tønnesen about the report.

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