Balance Sheet

Hamburger Energiewerke investing EUR 1.9 billion

21 June 2023
Company presents annual figures for 2022 and announces investments in zero-emissions projects

The Hamburger Energiewerke (HEnW) ended the 2022 fiscal year with a result of EUR 69.2 million almost all of which will be  transferred to the City of Hamburg, a press release said Monday (June 19, 2023). The company is putting around EUR 1.9 billion towards the heat transition by 2027 and is pushing ahead with zero-emission projects. HEnW is also aiming for coal-free heating by 2030 and for climate-neutral operations by 2045.

Hamburg - model for successful heat transition

"Germany is looking to Hamburg because we are demonstrating how the heat transition can succeed," said Jens Kerstan, Senator for the Environment and Chairman of the Supervisory Board of HEnW. "Hamburger Energiewerke is making the largest single contribution to the climate targets via the Hafen and Tiefstack energy parks and by expanding district heating. It is paving the way for a clean and secure energy supply in Hamburg." Two modular energy parks are to replace existing combined heat and power plants with fossil-free alternatives. The wind power plant in Wedel has already been completed. "HEnW will have almost all the technologies needed for climate-neutral heat in future.  It is broadly positioned and well equipped," said Kirsten Fust, Technical Managing Director.

Positive result despite turbulent energy market

"We are quite satisfied with the 2022 fiscal year and the resulting EUR 69.2 million," said Christian Heine, spokesman for HEnW. Demand for local heating more than doubled in 2022 over 2021. The number of new contracts signed rose by 16.1 per cent while the number of electricity customers increased by 4.1 per cent. HEnW is now aiming to expand the urban grid. The company was also satisfied that an impending gas shortage was prevented last winter. Despite a turbulent energy market, the company had done well with price brakes and levies, said Michael Prinz, Managing Director Sales.

Sources and further information

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