Energi Danmark consolidates across Nordic region

The global energy sector is in the midst of a transformation. In the wake of the international energy crisis, energy markets have changed and will continue to do so for years to come. As a result, the way in which energy suppliers are supporting their customers’ businesses needs a complete rethink. Therefore, Energi Danmark is now consolidating all its activities in the four Nordic countries – Denmark, Norway, Sweden and Finland – under one joint brand and is preparing to reposition the entire company across the Nordics. 

Consequently, both Energi Danmark and the group’s Nordic subsidiaries, Energi Salg Norge, Energiforsäljning Sverige and Energia Myynti Suomi, will now unite under one brand.

The name of the largest independent energy supplier in the Nordics will be: Mind Energy.

”Today, almost 75 per cent of our business is generated outside Denmark, and, on an aggregate basis, we are the largest independent energy supplier in the Nordic region. Hence, the ‘Energi Danmark’ name and the other company names are no longer accurate. We are one pan-Nordic energy company with significant energy trading activities throughout Europe, the UK, the Balkans and Australia. Over the past year, we have worked towards closer integration and a joint strategy for the entire business and the four countries. Today’s announcement is therefore a natural step to take in the execution of our strategy,” explains Louise Hahn, Group CEO of Mind Energy.

The energy market of the future has changed

One of the reasons for consolidating the Group’s Nordic companies is that the energy markets have changed as a consequence of the international energy crisis.

Although the energy market storm may have calmed down since the energy crisis hit with a vengeance in 2022, the energy sector is still facing a changed reality. The general price level of electricity has nearly doubled compared to pre-2021 levels, and, in addition, the price volatility almost quadrupled in the same period. The reason is partly great uncertainty in the markets, the phasing out of conventional forms of energy in, for example, Germany and a significant increase in renewable energy production.

In short, the new reality of energy markets is higher prices and far greater unpredictability.

“Times have made it difficult for most companies to figure out which energy agreement will be most optimal for their business. It depends on a number of different factors such as the company’s consumption profile in each price area, the importance of the energy price on the company’s profitability, sustainability ambitions and its ability to adapt its consumption to energy prices,” says Louise Hahn.

“All companies should have an energy strategy”

The new reality places new demands on companies’ energy focus. Focusing on energy may have a huge impact on most companies’ finances.

”As CFO of a company with significant energy consumption, you should increasingly consider the ‘total cost of energy‘. This includes the financial impact of your energy agreement in different scenarios and over a number of years. By taking a long-term approach instead of making ad hoc decisions, you may significantly reduce the financial uncertainty and potentially save money. It’s therefore crucial that you understand what you’re buying and what alternatives you’ve opted out of,” states Louise Hahn.

The consolidation and merger of the four companies are the culmination of targeted strategy work and the transformation which the company has undergone since Louise Hahn took over as CEO in August 2023.