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.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Danish carbon storage can run at max from day one

TotalEnergies can't see the need to pilot carbon storage under the Harald field in the Danish North Sea. Rather, the supermajor wants to begin at full scale if the Bifrost project manifests. Although much now depends on two forthcoming events: presentation of political strategy and allocation of EUDP money.

Europe’s carbon price has almost tripled in 2021

European carbon futures rose above EUR 80 a tonne on Friday for the first time, testing the resolve of politicians who are promising to act aggressively on climate change while grappling with inflation that’s tearing into economies across the globe.

Further reading

Related articles

Latest News

See all jobs