However, after consolidation of the SN Power operation, which invests and runs plants overseas, the utility’s hydro power output in H1-’09 was higher than last year.
The company’s total output in the period was down fractionally to 27.3TWh in the six months, the fall being relatively bigger in the second quarter – 15.7% to 10.2 TWh.
The utility’s operating revenues improved by 8% in the half-year, mainly due to assets bought in Germany from E.ON. However, the increase would have been higher if not for the decrease in electricity prices in the German market. Prices in the Nordic markets were relatively stable compared to last time.
Strategically, in addition to its SN Power activities and activities in south east Europe, Statkraft has set up an office in Lyon, France, to seek a role in the liberalising French hydro power market. A number of licences are being put out to tender for periods up to 2030.
