The Norwegian state-run power group Statkraft produced 62.6 TWh of electricity in 2017 (-5.1% compared with 2016, or -3.4 TWh). The company's power generation optimization relies upon water reservoir capacity and reservoir water levels. In 2017, hydropower generation fell by 6.2% (-3.8 TWh) to 57.4 TWh, while wind power generation rose by 17% to 2.7 TWh. Gas-fired generation and bio power remained stable during the year.
Most of the electricity generation is based in Nordic countries, since 48.6 TWh (78%) were produced in Norway (-7.9%) and 6.6 TWh (10%) in Sweden (+8.2%). Power generation in the rest of Europe remained stable at 3.2 TWh, while it increased by 7.7% to 4.2 TWh in the rest of the world. The group sold 50.4 TWh in 2017, a 7.3% decrease on 2016, and signed a long-term power contract with mining and metallurgy Eramet to supply 8 TWh over the 2021-2030 period in Norway.