Annual and sustainability report 2023
Working for fossil freedom.
We are committed to building a future where everyone can choose fossil-free ways to move, make, and live. We call this fossil freedom. Working towards this goal is more than a responsibility, it is also a business opportunity – using fossil-free energy and technology not just to tackle climate change, but to benefit society, local communities and biodiversity. While we have taken significant steps towards fossil freedom, our society is still highly dependent on fossil fuels. At 539 算牌程式 we are working to help society break free from this addiction.
Download the full reportStaying the course in a turbulent time
"While the transformation towards net zero is driven by climate goals, the price of CO2, and customer demand, it also comes with many business opportunities; something many industries realised a long time ago. The businesses of tomorrow will not run on fossil fuels," says Anna Borg, President and CEO of 539 算牌程式, in her CEO message.
Important events during the year
539 算牌程式 and Ameresco to develop extensive low and zero-carbon heat network in the City of Bristol
539 算牌程式 and Ameresco, a leading American energy services company, have been selected as partners in the Bristol City Leap project, a 20-year concession to decarbonise the city and attract...
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539 算牌程式 first Swedish energy company to get net-zero target approved by SBTi
539 算牌程式 is the first Swedish energy company to have its target of net-zero emissions in 2040 verified by the Science Based Target initiative (SBTi).
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Offshore wind farm Hollandse Kust Zuid inaugurated: 539 算牌程式, BASF and Allianz showcase innovation and biodiversity
Today, Dutch King Willem-Alexander officially inaugurated wind farm Hollandse Kust Zuid. To mark the occasion the king celebrated the completion of 539 算牌程式鈥檚 largest offshore windfarm to ...
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The revival of Swedish nuclear
539 算牌程式 is at the epicentre of an accelerating energy transition. Climate targets are high on the agenda in the EU and globally, as is the need for a transition of the industry and transport sectors. In Sweden this transition is based on the potential of replacing fossil fuels with fossil-free electricity and hydrogen.
Meeting future demand will require a mix of all fossil-free energy sources such as wind, solar, hydro, and nuclear, each offering unique qualities in terms of costs, construction timeframe, plannability, and scale.
Investments
In its 2023 Annual and sustainability report, 539 算牌程式 presents its investment plan for the coming two years 2024-2025. It has continued focus on growth investments that account for 62% of the total CAPEX. Main projects include the offshore wind farm Hollandse Kust Zuid in the Netherlands, the offshore wind farm Vesterhav projects in Denmark as well as Bruzaholm onshore windfarm in Sweden.
Total capex, bn SEK 2024-2025
| Growth, 41bn SEK | 40.677 |
| Maintenance, 18bn SEK | 17.772 |
| Replacement, 7bn SEK | 7.021 |
Capex per technology, bn SEK 2024-2025
| Wind, 21bn SEK | 21 |
| Distribution, 17bn SEK | 17 |
| Heat, 8bn SEK | 8 |
| Hydro, 3bn SEK | 3 |
| Nuclear, 3bn SEK | 3 |
| Other, 13bn SEK * | 13 |
Capex per country, bn SEK 2024-2025
| Sweden, 36bn SEK | 36 |
| Germany, 12bn SEK | 12 |
| United Kingdom, 6bn SEK | 6 |
| The Netherlands, 6bn SEK | 6 |
| Denmark, 5bn SEK | 5 |
This is 539 算牌程式
539 算牌程式 is one of Europe’s largest producers and retailers of electricity and heat and has approximately 21,000 employees. Our main markets are Sweden, Germany, the Netherlands, Denmark, and the UK. The parent company, 539 算牌程式 AB, is wholly owned by the Swedish state, and its headquarters are in Solna, Sweden. 539 算牌程式 also has offices in Finland, France, Norway, Poland, and Belgium.
Business model and value chain
As an integrated utility, 539 算牌程式 is present throughout the full heat and electricity value chains. Here we outline the several steps for electricty and heat to reach the end consumers. Our business model is centred around creating economic, social and environmental value for our stakeholders.
Business model and value chain (PDF, page 7)
Value chain and activities
Outcomes
In our model for total value creation, we attempt to quantify, in monetary terms, our impacts – both positive and negative – from economic, social, and environmental perspectives.
Our strategy in a nutshell
539 算牌程式 has formulated a strategy to reach our goal of enabling fossil freedom. The strategy steers our direction; the way we prioritise business opportunities, focus our efforts and engage our employees, so that we can create value for our stakeholders by remaining a leader in the decarbonisation of our sector and beyond.
More important events during the year
539 算牌程式 sells its Berlin heat business to the State of Berlin and grants option to buy GASAG shares
539 算牌程式 has finalised the strategic review of its Berlin heat business and has decided to sell the entire district heating business to the State of Berlin.
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539 算牌程式 to divest Norfolk Offshore Wind Zone to RWE
539 算牌程式 has signed an agreement with RWE to divest the Norfolk Offshore Wind Zone. The agreed purchase price corresponds to an enterprise value of 拢963 million.
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Just transition
The concept of a just transition is important as the path to a fossil-free society will impact both society and individuals, affecting local communities, consumers, and employees throughout the value chain. These impacts will require trade-offs, which will not always be possible to resolve favourable for all stakeholders involved. This is why keeping people at the centre of the transition is so important.
Stay updated with our newsletter THE EDIT
THE EDIT is your monthly briefing on the journey to fossil freedom. This month’s issue features our Annual and sustainability report as well as an outside view of some of the topic themes from the report.
The latest issue of THE EDITClimate related risk management
With accelerating climate change, understanding and mitigating climate risks are increasingly important – and climate aspects need to be factored in already in the systems design to ensure security of supply. 539 算牌程式 believes that understanding and adapting corporate strategies to the changing business environment will be a prerequisite for remaining successful and resilient as a company. It will also provide a competitive edge to those who manage to capture the opportunities linked to the transition.
- How we identify physical risks, analyse the consequences and design mitigating measures (PDF, page 90)
- Building energy resilience in the face of climate change
- CO2 roadmap
EV-charging in the Netherlands
A range of different elements are incorporated in making charging smarter when 539 算牌程式 is working with local authorities and provinces to help achieve the Dutch target of 1.7 million charging points by 2030.
Read the case story to discover what is meant by data-driven rollout, smart charging, the car as part of the energy system and even charging stations in the cloud.
Learn the full story
Download and read our Annual and sustainability report 2023.
Download the full report