Statkraft is Europe’s largest producer of renewable energy. The many hydropower plants account for around two-thirds of the production, but the company operates power production in a number of countries. The company earned NOK 14.5 billion in the fourth quarter, after paying almost the same amount in tax. That is almost four times as much as in the corresponding quarter of the previous year. Revenues totaled NOK 56.7 billion, three quarters more than the previous year. The reason for the high income is mainly the sky-high power prices, which in the fourth quarter were over a third higher than in the same period the previous year. At the same time, the company earned over NOK 9 billion from so-called market operations, which are linked to power agreements that have been sold with price protection. In the same period last year, the company lost over NOK 3 billion on power sales linked to speculation in future prices. The company now proposes to pay out NOK 17.2 billion in dividends for last year. That is NOK 1.6 billion more than what the government has set as a basis after the budget settlement in the Storting.
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Sky-high electricity prices gave record results for Statkraft – news Norway – Overview of news from various parts of the country
