Ørsted loses DKK 1.6bn on British power venture
A combination of a ship breakdown, Covid-19, stormy weather and component issues have meant that rather than seeing additional gains from higher electricity prices, Ørsted has had to purchase power at steep market prices.
BY MAZ PLECHINGER, TRANSLATED BY CHRISTOFFER ØSTERGAARD
For an offshore wind developer like Ørsted, explosive electricity prices are something of an ambivalent matter. Though it would appear positive for most businesses when the value of their products go up, it doesn’t really benefit producers due to the model that offshore wind farms are usually organized under, especially in mature markets in Europe.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
Get full access for you and your coworkers
Start a free company trial todayRelated articles
Supplier crisis poses challenge for Ørsted on all fronts
For subscribers
Ørsted's profits soar in Q1
For subscribers
Ørsted to set up onshore wind project in US
For subscribers
.jpg&w=384&q=75){kind=logo}