Statkraft narrows Q2 loss on higher Nordic prices

5 sourcesUpdated Jul 21, 20261 min read

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Statkraft posted stronger Q2 2026 results driven by higher Nordic power prices, with underlying EBITDA at 6.6 billion NOK, up from 4.5 billion a year earlier, while net profit remained negative at 1.5 billion due to a steep resource rent tax in Norway that produced an effective tax rate of 171%. Despite improved operating performance, hydropower output in Norway fell about 0.8 TWh as hydrological conditions tightened, though power generation across the Nordic region totalled 15.1 TWh. The quarter saw impairments of around 1.8 billion NOK, largely tied to wind assets in Germany, partially offset by a 907 million NOK reversal on onshore wind in Sweden, and profit before tax rose to 2.1 billion NOK from a prior loss. Statkraft completed strategic divestments, projected to cut complexity and empower investment, with more than 600 MW of new renewables decisions in the first half of 2026 and an annual investment framework of 16-20 billion NOK, while planning further capacity expansions including upgrades and new projects across Europe and beyond. After the quarter, Statkraft and Eviny announced the merger of their fast-charging units, signaling a sharpened strategy focused on three pillars: renewables development, asset ownership and operation, and market solutions, with ongoing projects in Norway and internationally.

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