Balance Sheet

EUR 20 million profit for Gasnetz Hamburg in 2019

18 August 2020
Higher degree of profitability - insight into climate projects and collaborations

Gasnetz Hamburg earned a profit of EUR 19.8 million in 2019, the company announced at a press conference on August 5, 2020. Apart from its annual balance, the focus was also on Gasnetz Hamburg's latest climate protection projects since becoming an urban body in 2018.

Hamburg's climate goals driving transformation of energy system

"Our city needs strong energy network operators such as Gasnetz Hamburg GmbH to meet Hamburg's climate targets," said Jens Kerstan, Senator for the Environment and Energy. "Clever management goes hand in hand with sustainable investments in a secure supply and the transformation of our city's energy system. Our new climate plan and the 'Climate Protection Act' require the city to act as a role model. Gasnetz Hamburg is acting as a responsible and far-sighted company by investing in secure jobs and through its activities in new technologies."

Investments in IT and customer relations

Gasnetz Hamburg invested around EUR 54 million last year mainly in IT that was separated from former owner E.ON and rebuilt. The IT division is now operated jointly with Stromnetz Hamburg GmbH - a move which has led to greater economic efficiency, said Christian Heine, Director of Gasnetz Hamburg. The company has also set up a customer service department  in Hamburg-Eidelstedt. Operative investments of EUR 27.5 million went towards replacing steel pipes with modern plastic pipes. Feeding renewable energies into the grid and expanding the gas network take priority during the continued refurbishment of the network.

Climate protection - gas instead of oil heating

The Climate Bonus Programme, launched in 2019 to give residents of Hamburg an incentive to switch from oil to gas heating systems, is also proving successful. More than 2,000 households have already availed of the EUR 1,000 grant for switching to a gas connection. Older buildings accounted for 64 per cent of new connections to the gas network. Modern gas heating systems save around 25 per cent of previous CO2 emissions and cut nitrogen oxide pollution by 62 per cent and particulate matter by as much as 93 per cent.

Hydrogen and digital projects

Gasnetz Hamburg is testing the admixture of up to 30 per cent hydrogen as part of the mySMARTLife project in Bergedorf from September 2020. The company is preparing its network for environment-friendly energies such as bio-methane and hydrogen to decarbonise the gas supply in future. Collaborations with Stromnetz Hamburg and Wärme Hamburg should help prepare for integrated network planning and a sustainable energy system for sector coupling. Gasnetz Hamburg is increasingly hiring experienced experts in hydrogen and for digital projects as well as technical personnel. 


Sources and further information

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