Statkraft’s third-quarter profit before tax climbed to NOK 5.9 billion as Nordic power prices more than doubled year over year, offsetting lower electricity output, the Norwegian power company said Thursday.
The company generated 14.7 terawatt-hours (TWh), down from 15.8 TWh in the same quarter of 2025. Norwegian output decreased by 1.4 TWh, partly offset by a 0.3 TWh increase elsewhere. Statkraft attributed the decline in Norwegian hydropower production to tight hydrological conditions.
Statkraft’s Q3 presentation put the Nordic system price at EUR 74.6 per megawatt-hour, compared with EUR 36 a year earlier. Underlying EBITDA — earnings before interest, taxes, depreciation and amortization — rose to NOK 5.2 billion from NOK 3.1 billion.
The Nordics were the company’s largest contributor. Statkraft said trading and origination activity supported its Markets unit, while International benefited from a settlement in a supplier dispute. In Europe, improved generation and operating revenue, along with lower operating expenses, were outweighed by negative hedging effects and project-development costs.
Net profit was NOK 3.5 billion, compared with a NOK 700 million loss a year earlier. St...