En­ergy pro­ducer Eesti En­er­gia records 12% rise in profit, amid high prices

Baltic News Network - - News -

Es­to­nian gov­ern­ment-owned en­ergy gi­ant Eesti En­er­gia reached in the sec­ond quar­ter of 2018, net profit to­talling 15 mil­lion eu­ros, which is a 12%-hike from the same pe­riod in 2017.

In the end of last week, Es­to­nian pub­lic broad­caster ERR wrote cit­ing a press re­lease by the com­pany that its turnover grew by 5%, reach­ing EUR 186 mil­lion.

Look­ing back at the re­sults of April-June this year, Eesti En­er­gia CFO An­dri Avila stressed that the av­er­age mar­ket price of elec­tric­ity within the Es­to­nian pric­ing area of the Nord Pool power ex­change in­creased 37% on year to EUR 42.10 per Mwh.

«The av­er­age price of elec­tric­ity in the sec­ond quar­ter was prac­ti­cally the same as it was in our area this win­ter, when elec­tric­ity con­sump­tion is higher and prices are gen­er­ally high­est of the year,» com­mented Avila.

REUTERS/SCANPIX

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