Operating profit from Vattenfall’s wind business reached almost Skr2bn (€183m) in the first nine months of the year, up from Skr752m last year, boosted by increased capacity and higher power prices.
Average prices in the Nordic region were 78% higher at €50.7 a megawatt-hour, compared with €28.5/MWh last year, while in Germany average prices increased 64% to €53.6/MWh from €32.7/MWh.
Wind output in the period was 5.3 terrawatt-hours, up from 5.1TWh in 2017. New capacity was the main reason for the increase, but unfavourable wind conditions partially offset the figures, the company said.
Net sales in the wind business rose to over Skr7.8bn from Skr6.1bn in the first three quarters of 2017.
Overall, the Swedish company’s operating profit grew to Skr13.43bn this year, from Skr12.6bn in 2017. Net sales were close to Skr109bn, rising from over Skr96.7bn in the same period last year.
Vattenfall chief executive Magnus Hall said: “Higher power prices and additional wind capacity had a favourable effect on wind during the first nine months of the year.”