Statkraft Publishes Q2 Results

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Amidst the Covid-19 pandemic and high snow-melting in Norway, Statkraft continues to focus on reliable and safe operations. Nordic power prices have been under pressure throughout 2020 and were pushed down during the second quarter.

“High snow melting has given exceptionally low Nordic power prices during the spring and summer, leading to a weak second quarter result. Statkraft maintains a robust financial position and continues to develop new renewable energy projects across our markets,” says CEO Christian Rynning-Tønnesen. A significant hydrological surplus due to high snow reservoirs has put pressure on the Nordic power prices. In the second quarter, the average Nordic system price was exceptionally low at 5.6 EUR/MWh, a decrease of 84 per cent... ... More: Official Press Release Statkraft

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Statkraft, results, second quarter, power price, Norway, COVID-19, price, electricity, hydropower, 2020, Q2