E-CO Energi - Provisional annual result 2018

28.02.19

2018 was a record year for E-CO Energi, which posted an operating profit of NOK 3,669 million. This represents a year-on-year increase of NOK 1,432 million. The improved performance is primarily attributable to higher electricity prices and increased power production.

E-CO Energi achieved an average power price in 2018 of 39.6 øre per kWh, up 11.5 øre per kWh from 2017. This is 2 øre per kWh below the hourly weighted spot price for the price areas where E-CO has production. The difference must among other things be seen against a marked increase in the power price towards the end of the year, which resulted in negative value changes on financial power contracts.

Net profit after tax for 2018 came to NOK 1,224 million in 2018 (2017: NOK 1,037 million). This is the best result in E-CO Energi?s history. 

Please read the full provisional report

For further information, please contact:

Martin S. Lundby, Acting CFO for Hafslund E-CO Tel: +47 416 14 448, e-mail: martin.lundby@hafslundeco.no