EnergyWatch

Statkraft doubles profit

The Norwegian utility has benefited from higher energy prices in the first three months of the year despite lower production.

Photo: PR / Statkraft

It might come as no surprise that it has been a good time to be a utility in the first three months of the year. Already high energy prices have only risen further, serving to heat things up in European utilities’ accounts.

This applies not least to Norwegian utility Statkraft, which comes out of Q1 with revenue of NOK 42.9bn (EUR 4.2bn), more than double of what was booked in this item in Q1 2021 when revenue came to NOK 18.1bn.

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