E-CO Energi AS
C. J. Hambros plass 2C, Oslo
Post- og fakturaadresse:
E-CO Energi AS
Postboks 1050 Sentrum
Tlf: 24 11 65 00
Faks: 24 11 65 01
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 04/13
E-CO Energi reported a profit after tax of MNOK 401 in Q1 2013, as against MNOK 482 in Q1 2012. The decline is due to lower production. The actual selling price was on a par with last year. E-CO Energi expects production to be below normal in 2013.
Press release 03/13
2012 began with record-high reservoir levels. The available annual water supply was also well over normal, so E-CO Energi increased production by no less than 1 TWh compared with last year. The Group obtained prices that were 36 per cent higher than the area price for Oslo (NO1), thanks to successful power price and currency hedging. Efficient operations and good production planning with high availability of the power plants contributed to yet another strong quarter for E-CO Energi. Consolidated operating revenues totalled MNOK 3 251. The average selling price was 0.30 NOK/kWh, which was 36 per cent higher than the NO1 price. The net profit for the year was MNOK 910, compared with MNOK 943 last year. The Board of Directors proposes a dividend of MNOK 750.
Press release 06/12
E-CO Energi reported a net profit after tax for the first nine months of the year of MNOK 612, down MNOK 43 year-on-year. Although power production climbed by nearly one TWh, that was not enough to offset the formidable decline in power prices. "Hedging had a substantial favourable effect; the actual selling price has been 44 per cent higher than the area price for Oslo year to date (YTD)" says Tore Olaf Rimmereid, President and CEO of E-CO Energi.