Verbund’s 9M23 results were supported by a higher-than-expected hydro coefficient of 0.93 (compared to 0.84 in 9M22) and still-high power selling prices due to the forward selling policy. As a reminder, 60% of the group’s generation is contracted on the basis of 1-year forwards. These excellent earnings were possible due to the high market price environment last year, which is not a normative situation, so we will see a normalisation over the next quarters.
03 Nov 2023
9M23: Strong earnings, FY23 guidance raised.
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9M23: Strong earnings, FY23 guidance raised.
- Published:
03 Nov 2023 -
Author:
Pierre-Alexandre Ramondenc -
Pages:
3
Verbund’s 9M23 results were supported by a higher-than-expected hydro coefficient of 0.93 (compared to 0.84 in 9M22) and still-high power selling prices due to the forward selling policy. As a reminder, 60% of the group’s generation is contracted on the basis of 1-year forwards. These excellent earnings were possible due to the high market price environment last year, which is not a normative situation, so we will see a normalisation over the next quarters.