Q3: Statkraft Publishes Results

Wind Industry Profile of

Statkraft recorded an underlying EBIT of NOK 1.1 billion in the third quarter of 2020. This was a decrease of NOK 0.9 billion from the corresponding quarter last year. The decrease was driven by substantially lower Nordic power prices, partly offset by hedging activities.

“Successful price hedging secured satisfactory third-quarter earnings, despite very low Nordic spot prices”, says CEO Christian Rynning-Tønnesen. In the third quarter, the average Nordic system price was 9 EUR/MWh, a decrease of 74 per cent compared with the same quarter in 2019. Total power generation was 14.5 TWh in the quarter, a decrease of 0.4 TWh. The decrease in generation was related to Nordic hydropower, while gas and wind power generation increased. Changes in... ... More: Official Press Release Statkraft

Keywords:

Statkraft, power price, price, EBIT, results, energy, Nordic, Q3, third quarter, wind farm, onshore, offshore, solar