Coal and gas costs weigh on profit for Endesa

摘要

Spanish utility Endesa boosted its power output last year but a more costly generation mix weighed on its financial performance. Profits fell by 67pc to ?1.08bn, down from ?3.33bn in 2014. Power generation rose by 5.5pc to 60.6TWh, but most of the growth came from combined-cycle gas turbines (CCGTs) and coal-fired plants. About 24.3TWh of Endesa’s output was coal-fired last year, 9.5pc higher than a year earlier. Of this, roughly 9TWh was from locally produced coal, down by about 250GWh a year earlier. Output from CCGTs almost doubled to 3.47TWh, while hydro output fell by 18pc to 7.1TWh. Nuclear output was up by 4pc to 25.7TWh.