Norway’s electricity industry posted 2004 annual profit of NOK 11.3 bln
The annual profit in the Norwegian power industry increased by 6.5% in 2004 to NOK 11.3 billion (EUR 1.43 billion), according to figures released by Statistics Norway on Thursday.
Norway produced 110.5 TWh of electricity in 2004, up 3% year-on-year, while the country posted a net import of 11,492 GWh of electricity in 2004. Consumption increased by 5.1% in 2004, with total net consumption at 109.6 TWh.
The operating profit margin, the ratio between operating profit and operating income, increased by 1.7% from 2003 to 2004, according to Statistics Norway.
The total gross value of electricity production increased by 3.2% in 2004, year-on-year, to NOK 50.8 billion. However, investments in the Norwegian power industry fell by 7.1% in 2004, compared year-on-year, to NOK 5.3 billion. Investment in hydropower stations decreased year-on-year in 2004, while investment in both wind power generation and transmission systems increased during 2004, Statistics Norway added.
The price of electricity in 2004 dropped to NOK 0.277/kWh from NOK 0.371/kWh in 2003, while the tariff on distribution rose from NOK 0.249/kWh in 2003 to NOK 0.262/kWh in 2004.
Norway produced 110.5 TWh of electricity in 2004, up 3% year-on-year, while the country posted a net import of 11,492 GWh of electricity in 2004. Consumption increased by 5.1% in 2004, with total net consumption at 109.6 TWh. JE
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