Ørsted to sell Danish power distribution business

Denmark: The Danish energy giant Ørsted plans to dispose of its power distribution and residential customer businesses in Denmark to focus on consolidating its position in the offshore wind industry in existing and new markets, the company announced in the press statement.

The company announced it has initiated a structured divestment process for the Danish downstream business following the conclusion of a strategic review by its board of directors and executive management.

Ørsted’s power distribution business, which is run under its subsidiary Radius, serves nearly a million electricity customers in the Copenhagen area, North Zealand and parts of central Zealand.

The company’s residential business sells electricity to nearly 733,000 customers and gas to about 91,000 customers. It also services close to 40,000 gas customer’s boilers.

The company said these businesses are well-run and have a high level of customer satisfaction, but are not a sales channel supporting the company’s long-term international growth in renewables

Source: Ørsted