Energy, Telecommunications, Economy & more | News from the Netherlands

Eneco Shows Stable Results in Turbulent Times

The old Eneco logo from the year 2007 was found in our archives.

Eneco's One Planet plan aims to reduce its CO2 emissions to 10 Mtonnes, a reduction of 3.2 Mtonnes. In addition, the company has commissioned a Virtual Power Plant and has seen growth in the sale and installation of home batteries in Germany and (hybrid) heat pumps.

New developments by the company include the establishment of Eneco Diamond Hydrogen, a joint venture with Mitsubishi Corporation focused on green hydrogen and participation in the IJmuiden-Ver offshore wind tender with Equinor. The company has also shown an increase in profit after tax, with €380 million in the past 15 months and a profit of €272 million in the proforma 2022 financial year.

Investment and acquisition activities of the company increased to €642 million in the 15-month period, with €553 million in the proforma fiscal year 2022.

Despite the challenges, Eneco has contributed to the fight against energy poverty by developing and implementing a social debt collection policy and involvement in various debt relief initiatives.

In its sustainability strategy, Eneco is actively involved in the large-scale installation of (hybrid) heat pumps, often in combination with solar panels. They aim to increase renewable energy production and balance, and optimise the energy system.

Implementing their One Planet plan is well on track, with a reduction in CO2 emissions to 10.0 Mtonnes and a net positive impact on biodiversity from 2025 as a target.

Although the 2022/2023 energy crisis brought challenges and risks, Eneco's experience in risk management and its sound financial situation enabled them to mitigate and address these risks.

This approach contributed to the company's stability during this difficult period and ensured continuity of service to their customers. Despite global energy price fluctuations, Eneco remained able to deliver reliable and affordable energy services.

In addition, Eneco took advantage of this situation to accelerate their sustainability goals. They continued to invest in renewable energy sources and energy efficiency, which helped them become less dependent on traditional, fluctuating energy markets.

Thus, the 2022/2023 energy crisis, although challenging, has allowed Eneco further to position itself as a leading player in renewable energy and helped them adapt its business model to a changing energy market.

Sources:
[1] Eneco, "Stabiele resultaten in turbulente tijden", https://nieuws.eneco.nl/stabiele-resultaten-in-turbulente-tijden/, retrieved on 23 June 2023.
 

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