Belgian utility Electrabel has reported improving its overall sales by over 10% to E13.5 billion in its latest annual figures.
The integrated power firm enjoyed particularly strong growth in natural gas sales, as they increased 32.1% to E2.4 billion. However, the firm’s core business of electricity remained its dominant sales channel, increasing 17% to E9.6 billion.
From a geographical perspective, Electrabel’s core market region remained the Benelux countries, although the energy outfit did experience highly encouraging growth in new markets, with electricity and gas sales up 37.1% and 40.7%, respectively.
In Belgium, electricity volumes sold dropped 2.4%. Turnover was up, however, by 4.2%, as a result of rising prices. In the Netherlands, volumes sold were up 4.7%, thanks mainly to the acquisition of Rendo and Cogas.
For gas, in Belgium, volumes sold were up 5%. The increase in volumes, combined with an increase of the gas price, resulted in 22.4% higher revenues in Belgium. In the Netherlands, volumes sold were up by nearly 7TWh (more than tenfold).