When Nordic power prices collapsed during last year's spring and summer periods due to chock-full water reservoirs and interconnector breakdowns, Statkraft and its massive fleet of Norwegian hydroelectric power plants were right in the eye of the storm.
This was evident in the state-owned utility's fiscal reports, which revealed merely NOK 6.16bn (EUR 587.7m) in revenue during the second quarter, EBITDA of NOK 925m, EBIT of NOK -1.64bn and a bottom line of NOK 491m, meaning Statkraft got through only by the skin of its teeth.
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