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Sweden's Vattenfall sees Q3 profits dwindle 46%

10/27/2020 | 02:13am EST

OSLO, Oct 27 (Reuters) - Vattenfall slumped to an operating profit of 4.7 billion crowns ($538 million) in the third quarter from 8.7 billion crowns a year ago, it said on Tuesday, as an unusually high hydrological balance put pressure on Nordic power prices.

"Price hedges and a positive contribution from the sales operations and trading have counterbalanced the negative effect of lower electricity prices," the utility firm said in a statement.

($1 = 8.7369 Swedish crowns) ($1 = 8.7369 Swedish crowns) (Reporting by Nora Buli, editing by Gwladys Fouche)


© Reuters 2020
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