Low power prices lash Statkraft
Low electricity prices and Norway's weak currency hit Statkraft hard, with the operating result retreating by NOK 2.7 billion relative to the same period last year. The state-owned utility loses NOK 1.9 billion in the whole quarter.
A catastrophe has been luring for Norwegian power company Statkraft. Record-low electricity tariffs and a weak Norwegian krone made it hard for the utility, which has massive volumes of hydroelectric capacity and an international profile, to turn a profit.
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