Electricity prices are under pressure in the northern region due to historically well-filled water reservoirs. Finland’s Fortum reduced its profits in the third quarter compared to the same period last year. Stock Photography.
The Finnish energy group Fortum, a partner of Stockholm Exergi, has reported operating income adjusted for items affecting comparability of 132 million euros in the third quarter of the year. The result for the corresponding quarter last year was 295 million euros.
The pandemic, the depressed electricity prices and the weak quarterly season of the Uniper subsidiary marked the Fortum period of uncertainty, CEO Markus Rauramo wrote in the report.
Fortum ended the deal earlier this year, which made the company the main owner of the global energy group Uniper. According to the CEO, the work to unify the strategies of Fortum and Uniper is continuing and will be presented in more detail on the December Capital Market Day.