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