FINANCIAL STATEMENT 2020 - AN EXCERPT IN ENGLISH
This is an English excerpt of the financial statements in 2020. A full version of Energinet's annual report is available in Danish only.Download report
In 2020 the ongoing green transition gained significant momentum. A year of significant results and a year of striking new ambitions: The share of biogas hit a record in 2020, accounting for 21 % of Danish gas consumption and a still high share of renewable energy from sun and wind, accounting for 50 % of Danish electricity consumption.
In June 2020, a broad political majority in the Danish Parliament made an agreement, which firstly, sets the first targets for the energy and industrial sectors’ contribution to the 70 % target, and secondly, activates several concrete instruments and measures in these sectors. The agreement contains a goal of establishing two energy islands in Denmark with connections to other countries.
Energinet's annual report for 2020 (in Danish) provides a status of the development of the infrastructure that will continue to support the transition. At the same time, it is the narrative about the progress in the strategic development Energinet is reviewing to continue to lift our core task well.
The establishment of infrastructure in an integrated, European energy market
The brief status of Energinet's development of an energy infrastructure that supports the transition - while closely connected to the integrated European energy market:
- Kriegers Flak (the upcoming combined offshore wind farm and electricity connection between Denmark and Germany) was inaugurated and put into use
- Baltic Pipe (the coming gas pipeline from Norway over Denmark to Poland) started the construction phase
- Evida was sold to the Ministry of Finance
- Digitisation and comprehensive development of the IT technical support of an energy system with increasing proportions of energy from weather-dependent energy sources
Strong strategic progress
2020 has been a year of significant political decisions in the climate area, just as one can observe an impressive momentum in the outside world as well as strong strategic progress in several areas:
- The establishment of 2 energy islands in Denmark constitutes a new era of offshore wind on a large scale
- Sector coupling and Power-to-X analyses as well as the conversion of the gas system to biogas
- Renewable energy on market terms is crucial if the green transition is to continue while maintaining security of supply at a high level at an affordable price
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