Annual Report 2018: Secure supplies are shared supplies. Short version.
In the annual report, Energinet provides a status and looks ahead – into the next phase of the green transition. A phase where far greater focus has got to be dedicated to new uses of renewable energy, while the expansion of renewable energy generation (particularly offshore wind and solar) continues.Download report
Together with the energy sector and society at large, Energinet is heading into the second half of the green transition. It is now that we need to develop the solutions which can take us from about half to full renewable energy coverage. This requires new initiatives and new approaches.
Thomas Egebo, Energinet's CEO, says:
In Denmark, we’ve come far with the green transition of the energy sector. In the coming years, sector coupling, increased consumption flexibility and digitalisation will be three very important watchwords if we want to stay at the forefront of the green transition.
For Energinet, 2018 was a time of change in terms of the development towards secure supplies being shared supplies.
Energinet continued the work on establishing electricity and gas interconnections, but also saw popular concern and resistance to the expansion of the domestic energy infrastructure associated with this work.
Nordic and European market expansions made great strides. At the same time, Energinet decided to work towards the establishment of a temporary strategic reserve, which, conversely, can be seen as a sign that the electricity markets are not yet sufficiently developed.
But Energinet is in the starting blocks and ready to go – headed for the second half of the green transition.
In 2018, political commitments were undertaken regarding a new energy agreement setting new ambitious targets for the transition of the energy system. In focus articles on electricity highways, sector coupling and flexible consumption, we put Energinet’s work into perspective based on three of the important themes in the energy agreement: offshore wind power, green gas and new market models.
2018 also saw the implementation of a major restructuring of Energinet’s organisation. Energinet is now a group with subsidiaries, each responsible for performing well-defined tasks falling within Energinet’s overall vision. The annual report explains how.
In Energinet’s annual report, you can:
- see an overview of the year’s main events for Energinet
- gain an insight into the Executive Board’s status on Energinet’s strategic results
- see how the subsidiaries contribute to the joint mission
- get an insight into how Energinet’s work is aligned with the adopted political objectives.
Energinet posted revenue of DKK 4.9 billion in 2018. Net profit for the year was DKK 54 million, which is satisfactory. Energinet is not required to generate a profit. Excess revenue constitutes debt to the energy consumers, while a deficit constitutes debt owed by the energy consumers.
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