ORSTED Orsted

Danish authorities order Ørsted’s oil- and coal-fired power stations into operation

Ørsted A/S (Orsted)
Danish authorities order Ørsted’s oil- and coal-fired power stations into operation

01-Oct-2022 / 11:20 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


1.10.2022 11:20:34 CEST | Ørsted A/S | Investor News

In order to ensure the security of the electricity supply in Denmark, the Danish authorities have decided to order Ørsted to continue and resume operations of three of its power station units which use oil and coal as fuel.

This applies to unit 3 at Esbjerg Power Station and unit 4 at Studstrup Power Station, which both use coal as their primary source of fuel, and unit 21 at Kyndby Peak Load Plant, which uses oil as fuel. The two latter units have already been decommissioned and preserved, whereas Esbjerg Power Station was scheduled to be decommissioned on 31 March 2023.

Mads Nipper, Group President and CEO of Ørsted, says:

"In order to ensure the security of the electricity supply, the Danish authorities have today ordered us to continue as well as resume operations at some of our oil- and coal-fired power stations. We will, of course, comply with the Danish authorities’ order, and we'll now begin preparing and maintaining the units as well as securing the staffing necessary to operate them. We still believe that we, as a society, must phase out the use of gas, oil, and coal as soon as possible, but we're in the middle of a European energy crisis, and we will, of course, contribute to ensuring the electricity supply to the best of our ability."

Ørsted will be facing a number of technical and staffing issues that will have to be solved. Maintenance will have to be carried out at all three units to prepare them for operation during the required period. In addition, it takes highly specialised workers to operate a power station, and they must be trained in operating the specific power station. Ørsted expects that it will take time to get everything in place, especially for unit 4 at Studstrup Power Station and unit 21 at Kyndby Peak Load Plant, but will make every effort to get the units ready for operation as soon as possible.

The Danish authorities have ordered Ørsted to keep the three units in operation until 30 June 2024, and Ørsted therefore maintains its goal of becoming carbon-neutral by 2025. 


Facts about the power station units:
Esbjerg Power Station, unit 3: Coal-fired, can generate 370 MW of electricity
Studstrup Power Station, unit 4: Coal-fired, can generate 360 MW of electricity
Kyndby Peak Load Plant, unit 21: Oil-fired, can generate 260 MW of electricity


For further information, please contact:

Media Relations
Carsten Birkeland Kjær

Investor Relations
Rasmus Keglberg Hærvig

About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Moreover, Ørsted provides energy products to its customers. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive biodiversity impact from all new renewable energy projects it commissions from 2030 at the latest.   Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2022 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 7,292 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2021, the company generated revenue of DKK 77.7 billion (EUR 10.4 billion).  Visit or follow us on Facebook, LinkedIn, Instagram, and Twitter.

Attachments


News Source: Ritzau


ISIN: DK0060094928
Category Code: MSCM
TIDM: Orsted
Sequence No.: 191782
EQS News ID: 1454857

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1454857&application_name=news&site_id=research_pool
EN
01/10/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Orsted

 PRESS RELEASE

Sunrise Wind receives federal record of decision, takes final investme...

Ørsted A/S (Orsted) Sunrise Wind receives federal record of decision, takes final investment decision 26-March-2024 / 18:22 CET/CEST 26.3.2024 18:21:55 CET | Ørsted A/S | Investor News Sunrise Wind today received its Record of Decision (RoD) from the US Department of the Interior's Bureau of Ocean Energy Management (BOEM), crossing a critical milestone in the federal environmental review process for the offshore wind project serving New York. Additionally, Ørsted and Eversource today announced they have jointly taken a final investment decision on Sunrise Wind, solidifying the co...

 PRESS RELEASE

Ørsted updates its executive management structure and appoints Rasmus ...

Ørsted A/S (Orsted) Ørsted updates its executive management structure and appoints Rasmus Errboe as Deputy CEO 21-March-2024 / 13:30 CET/CEST 21.3.2024 13:30:01 CET | Ørsted A/S | Other information disclosed according to the rules of the Exchange Following the recent launch of its , Ørsted today announces updates to its executive management structure to simplify the structure and further sharpen the company’s focus on project execution, financial discipline, value creation, risk management, and operational excellence. Supported by a DKK 270 billion investment programme, Ørsted pl...

 PRESS RELEASE

Ørsted divests share of four US onshore wind farms to Stonepeak

Ørsted A/S (Orsted) Ørsted divests share of four US onshore wind farms to Stonepeak 13-March-2024 / 08:00 CET/CEST 13.3.2024 08:00:01 CET | Ørsted A/S | Investor News Through the partnership with Stonepeak, Ørsted will recycle capital to support its business plan and future value-creating renewable energy projects. Ørsted has signed a transaction with Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, whereby Ørsted will divest to Stonepeak an equity ownership stake in a portfolio consisting of four US onshore wind farms with a total ...

 PRESS RELEASE

Tender offer for hybrid capital securities – final results

Ørsted A/S (Orsted) Tender offer for hybrid capital securities – final results 12-March-2024 / 09:08 CET/CEST 12.3.2024 09:07:55 CET | Ørsted A/S | Investor News NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR THE TENDER OFFER MEMORANDUM (AS DEFINED...

Orsted AS: 3 directors

Three Directors at Orsted AS bought 1,764 shares at between 359.330DKK and 388.300DKK. The significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the l...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch