Orsted
ESRS disclosure: E1-5_23
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- Can you provide a detailed account of the anticipated financial effects stemming from material physical and transition risks, as well as potential climate-related opportunities, specifically focusing on the net revenue generated from activities outside high climate impact sectors? If the net revenue cannot be directly linked to a line item or disclosure in the financial statements, please present a quantitative reconciliation using the prescribed tabular format, ensuring connectivity with energy intensity and financial reporting information.
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Question Id: E1-5_23
The lower consumption of coal compared to 2023 was mainly driven by the shut down of the coal-based Esbjerg Power Station from September 2024 as well as our other coal-based generation capacity in Q4 2024. In addition, we have resumed biomass usage at Studstrup Power Station, replacing coal consumption since April 2023. Total energy consumption from renewable sources increased by 27% in 2024 compared to 2023. The increase was primarily driven by 30% higher fuel consumption from biomass at our CHP plants, driven by improved spreads from decreasing wood pellet prices as well as increased biomass usage at Studstrup Power Station in 2024, as we have resumed using biomass after the fire in the wood pellet silo that lead to lower biomass usage in 2023. The 15% increase in energy intensity from activities in high climate impact sectors is due to a 3% increase in total energy consumption (numerator) and a 10% reduction in revenue (denominator).
Report Date: 4Q2024Relevance: 45%