2013 was yet another good year of operations for E-CO Energi, as both operating revenues and earnings before tax were on a par with 2012. Successful hedging, good production planning and operations that maintained high power plant availability contributed to E-CO Energi's strong performance. The Group's reservoirs were at normal levels early in the year and, despite dry, cold late winter months, the spring brought abundant precipitation and the rest of the year was normal. Production ended at 10.0 TWh, compared with 10.8 TWh in 2012. Two new power plants, Embretsfoss 4 and Rendalen 2, were commissioned in 2013. The Board of Directors proposes a dividend of MNOK 750 for 2013.
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P. O. Box 255 Sentrum
C. J. Hambros plass 2 C, Oslo
Tel: + 47 24 11 69 00
Fax: + 47 24 11 69 01
Norway's second largest producer of hydroelectricity
E-CO Energi is one of Norway's leading energy groups. Its core activities are the ownership and management of hydropower plants and development of new renewable power projects. The City of Oslo owns 100 % of the parent company, E-CO Energi Holding AS.
|The Raudal reservoir in Øvre Otta|
E-CO Energi is Norway's second largest producer of hydroelectricity with a mean annual production of 9.7 TWh and a production capacity of approx. 2 800 MW. READ MORE
Press release 09/13
E-CO Energi reported a net profit after tax for the first nine months of the year of MNOK 622, up MNOK 10 year-on-year. Higher prices more than offset lower power production. Once again this year, hedging has helped ensure that the Group obtained a higher selling price than the spot price on Nord Pool.
Press release 07/13
E-CO Energi reports a mid-year profit after tax of MNOK 504 in 2013, compared with MNOK 577 in H1 2012. The decline is ascribable to lower production. Heavy precipitation in Q2 improved production and the fiscal prospects for 2013 as a whole, compared with the situation at the end of Q1. The Embretsfoss 4 and Rendalen 2 power stations came online in Q2.