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Comments and facts regarding media coverage of bonuses in Energi Danmark

Recently, the Danish media has been focusing on and speculating about bonus schemes in Energi Danmark. We and our owners fully understand that bonus schemes attract attention in times of energy crisis and significant price fluctuations, and it is therefore important for us that you are well-informed about our policy and perspectives on the matter.

March 22, 2023

No employees in Energi Danmark will receive performance bonuses for 2022 amounting to two- or three-digit million amounts (DKK)

  • At Energi Danmark, like in similar companies in the industry, we have bonus schemes for a selected group of employees. According to our policy, there is a cap on these bonus schemes.
  • For a small handful of key employees, there has been a bonus scheme without a cap. The agreement, which was a collectively negotiated bonus scheme, was made by the former CEO. This matter has now been clarified. In that connection, we emphasize that no employees in Energi Danmark will receive performance bonuses for 2022 amounting to two- or three-digit million amounts (DKK).

Energi Danmark did not profit from its Nordic business customers in 2022

Several media outlets have also mentioned that Energi Danmark allegedly made significant profits from its Danish and Nordic business customers during the energy crisis. This is not correct.

The facts are as follows:

  • Energi Danmark is divided into two divisions: One part handles our customer business, and the other part, trading, trades on foreign exchanges.
  • The high electricity prices that our Nordic business customers experienced in 2022 do not reflect Energi Danmark profiting from Nordic business customers. On the contrary, the high electricity prices have solely been caused by the high purchase prices prevailing in the market. Energi Danmark’s profits have been generated in the trading business by trading on markets outside the Nordic region.
  • In general, trading activity in the market has contributed to lower electricity prices in Europe, as electricity actively is moved to regions where it is most needed. Without this market model, electricity would have been even more expensive for end-customers throughout Europe.

About Energi Danmark

Energi Danmark is one of Denmark’s leading energy trading groups in the market for energy trading to business customers and has subsidiaries in Sweden, Finland, Norway, and Germany. The company is well-consolidated and actively participates in securing and developing a well-functioning electricity and energy trading market in Northern Europe. Energi Danmark is owned by the two cooperatively owned energy and fibre-optic groups, Andel (63.6%) and NRGi (36.4%).