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Tauron electricity production decline continues in the second quarter

23 Aug 2012 15:07:59 | edem

Polish utility Tauron Polska Energia on Thursday reported a 20% year on year decline in generated electricity to 4.2TWh in the second quarter of 2012.

The fall comes after a 15.8% year on year decline in power generation in the first quarter of 2012 to 5.0TWh. This drop was attributed to Tauron's strategy of buying power on the market as opposed to producing it (see EDEM 10 May 2012).

However, electricity supply rose by nearly 18% year on year in the second quarter to 10.8TWh as a result of the acquisition of Swedish firm Vattenfall's Polish power distribution assets (see EDEM 30 November 2011), the utility said.

The acquisition and the termination of long-term power contracts lifted the group's net profit by 43.5% in the second quarter year on year to zlotych 487.9m (€119.3m).

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