Wind boosts Statkraft's operating profit

Norwegian utility Statkraft ended this year's first quarter with around NOK 6.4 billion in operating profit. Wind power contributed to an improvement upon the same period last year, the company informs Thursday morning.

Photo: Erik Thallaug/Statkraft

Norway's state-owned utility Statkraft – Europe's largest renewable energy generator – booked an underlying operating result of approximately NOK 6.4 billion (EUR 650 million) in Q1 this year, growing NOK 469 million relative to the same period last year and mainly attributable to a larger contribution from wind power and various market activities, Statkraft informs in its Q1 interim report Thursday morning.

The first quarter's average Nordic electricity price increased by 21 percent compared to the same quarter last year, while Statkraft's total power generation hit 16.1 TWh, down 4.8 TWh from the record-high level from Q1 of 2018, the utility writes.

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