Electricity

HSE’s net profit plunges 56% in 2017 as electricity production shrinks 10%

Photo: HSE

Published

June 13, 2018

Country

Comments

0

Share

Published:

June 13, 2018

Country:

Comments:

0

Share

Slovenian state power utility Holding Slovenske Elektrarne’s (HSE) net profit in 2017 dropped 56% against 2016, to EUR 19.7 million, as a result of a 10% year-on-year decrease in electricity production, according to HSE’s annual report.

HSE’s total electricity production in 2017 was 7,034 GWh, down from 7,778 GWh in 2016.

Output at HSE’s hydropower plants shrank 17% in 2017, as its thermal power plants generated 4% less electricity compared with 2016 and the Avče pumped storage power plant saw a 2% year-on-year decrease in production.

The drop in electricity production was compensated through trading activities, mainly intraday trading, according to the annual report.

The net profit of HSE Group stood at EUR 7.71 million, down from about EUR 21.7 million in 2016.

The group’s sales revenue in 2017 jumped to about EUR 1.59 billion, from some EUR 1.18 billion in 2016, while its EBITDA fell from EUR 156.4 million to EUR 135.4 million.

In 2017, HSE managed to keep its leading position in renewable energy production in Slovenia, with an 80% share of the country’s overall renewable energy output, according to the report.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia EPS no longer dependent on imports acting CEO Tomasevic

Serbia’s power utility EPS no longer dependent on imports, acting CEO claims

27 January 2023 - EPS is importing much less electricity this winter than last one and it is not dependent on imports, acting CEO Miroslav Tomašević said

Second unit of Krško nuclear power plant projected to come online in 2035

27 January 2023 - The second unit in the Krško nuclear power plant could be in operation in 2035, but project permits are still pending

Household solar power systems overload Cyprus electricity grid

Household solar power systems overload Cyprus electricity grid

27 January 2023 - The distribution and transmission system operators in Cyprus asked for a freeze in issuing licenses for small solar power installations for self-consumption

cwp montechevo solar montenegro

CWP enters Montenegrin renewables market with 400 MW solar project

26 January 2023 - The investment is valued at around EUR 360 million, while the development and construction of the project are planned in phases