24hoursworld

Verbund sold self-generated electricity in the 1st quarter at 203 euros/MWh

Verbund sold self-generated electricity in the 1st quarter at 203 euros/MWh
Verbund boss Michael Strugl
Image: VOLKER Weihbold

Skimmed profits in Germany, Austria and Romania burdened the result with EUR 68.6 million. On average, self-generated electricity from hydropower was sold for 202.8 euros per megawatt hour, which was almost 90 euros more than a year ago. From June, the government wants to skim off the profit for electricity at prices above 120 euros/MWh.

According to the quarterly report published on Thursday, consolidated earnings increased by 2.8 percent compared to the same quarter of the previous year, from EUR 514.4 million to EUR 529.0 million. The average sales price for in-house generation from hydropower rose by EUR 88.9 from EUR 113.8/MWh to EUR 202.8/MWh. Positive for the Verbund profit were the sharp rise in futures market prices in electricity wholesale and the higher generation from photovoltaic and wind power plants, especially in Spain.

The significantly lower thermal generation and the high procurement costs for purchased electricity had a negative impact, so that this business segment reported a loss. Overall, the slight easing on the energy markets that began at the end of 2022 has continued. “Wholesale prices for gas and electricity fell significantly in the past quarter and at times fell below the pre-war level in Ukraine,” says Verbund.

Electricity production from run-of-river power plants was seven percentage points below the long-term average. In contrast, the generation of the annual storage power plants increased by 13.5 percent in quarter 1/2023 compared to the same period of the previous year. Hydropower generation increased by a total of 121 GWh to 6,089 GWh.

Verbund now expects earnings before depreciation and investments (EBITDA) of between EUR 3.7 and 4.3 billion and a consolidated result of between EUR 2 and 2.4 billion – if there are no further negative effects from skimming off profits at energy companies.

more from economy

EU court declared approval of Lufthansa aid null and void

Cake toss and topless protest: riots at VW shareholder meetings

Telekom Austria invests 600 million euros in infrastructure

Pierer on reduced working hours: “This is an insult to my employees”

: Nachrichten

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts