In reporting its results for the first quarter, ending July, of its 2006-07 financial year it says: “Whilst very challenging, we continue to work towards achieving 63TWh for the financial year 2006/07. However we now expect output to be in the range 61TWh to 63TWh assuming no large losses occur.”
Strong electricity prices enabled the company to deliver a reasonable financial performance for the first quarter, with a net profit of £75 million ($138 million) on the quarter ahead, well up on 2005’s £16 million despite a nuclear output well below expectations. Prices are reflected in an increased operating margin of £13.8/MWh ($25.5/MWh), compared with £4.0/MWh ($7.4/MWh) in the previous corresponding period.
Total output was down from 17.4TWh to 17.0TWh, of which nuclear provided 15.3TWh and coal 1.7TWh. Boiler tube cracking at its Hunterston B plant played a significant part in bringing down the figures.
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