‘Power prices in July and August were lower than they have been in the Nordic region for several years. In spite of this, Statkraft achieved an acceptable result due to high contract coverage and somewhat higher power production than in the same period last year,’ says President and CEO Christian Rynning-Tønnesen.
Market conditions in the third-quarter continued to be influenced by heavy precipitation and high reservoir water levels in the Nordic region. The group’s power production was 11.4TWh in the third-quarter, an increase of 4% compared with the third-quarter last year. The increase was largest in hydro power production, up 10% from 2011.
