Strong results for Hafslund in the first half of 2026
Good production optimization and higher power prices resulting from a cold winter contributed to Hafslund delivering a profit after tax of NOK 2,495 million in the first half of 2026. This is up from NOK 2,222 million in the same period last year.
- The results in the first half of the year show the value of flexible hydropower and active production optimization in a market characterized by uncertainty. At the same time, we continue to invest heavily in projects that strengthen security of supply, increase installed capacity, and contribute to the energy transition. I am also pleased to see that our injury statistics have improved significantly following two serious incidents in 2025. We will continue our targeted HSE efforts, with a particular focus on learning and continuous improvement, says CEO of Hafslund, Finn Bjørn Ruyter.
The operating profit ended at NOK 7,892 million, compared with NOK 5,690 million in the same period last year. The increased operating profit was mainly driven by higher power prices than in the first half of 2025, solid operational performance and effective production optimization in both the power generation and district heating businesses.
The achieved power price was 99 øre per kWh in the first half of 2026, up 29 øre per kWh from the same period last year. Power generation was 9 TWh, which is 6 percent lower than normal production for the half-year period. The operating profit in the power generation business was NOK 7,554 million, compared with NOK 5,437 million in the same period last year.
District heating sales reached 1,100 GWh due to a colder winter and consequently higher heating demand in Oslo. The district heating business delivered an operating profit of NOK 435 million. This is NOK 238 million higher than in the first half of 2025. However, the improvement in profit must be seen in light of special circumstances in the period, and the current framework conditions remain challenging for profitability over time.
During the first half of the year, Hafslund reached several important milestones. The carbon capture project at Klemetsrud is progressing according to plan and cost, one of the two power stations at Braskereidfoss power plant has resumed operations following the extreme weather event “Hans” in 2023, and investment decision has been made to upgrade Nes power plant in Hallingdal. The Group has also submitted a license application for the upgrade of Hol 1 power plant. Over the next ten years, Hafslund plans to invest approximately NOK 40 billion in hydropower facilities.
The report is also available at Hafslund’s website www.hafslund.no.
Hafslund AS Oslo, 28 August 2026
For further information: Marte Hortemo, Communication Manager, tel: +47 993 56 242 or e-mail: marte.hortemo@hafslund.no Andreas Wik, Head of Treasury, tel: +47 924 97 255 or e-mail: andreas.wik@hafslund.no
More information: Access the news on Oslo Bors NewsWeb site