Delivering strong financial results for 2023 – renewable energy trading and risk management secures momentum in calmer markets

AALBORG, June 13, 2024: Centrica Energy Trading A/S, reports consolidated results for the financial year 2023 delivering profit before tax of DKK 3,447 million and DKK 3,210 million in operating profit. The financial result for 2023 is Centrica Energy Trading A/S’s 2nd strongest performance to date, only surpassed by the exceptional performance seen in 2022.  

“Our financial performance was largely driven by the fact that we’ve spent the last two decades building and maturing our sustainable business model. We have pursued a commercial strategy designed to accommodate the growth in renewable energy trading and investments, making significant investments in advanced risk management capabilities and in-house developed platforms. In 2023, almost 70% of our performance was driven by trading and optimisation of green energy and flexible energy assets, and it’s our goal to double our portfolio of renewable assets under management by 2030.” said Kristian Gjerløv-Juel, Vice President of Renewable Energy Trading & Optimisation. 

Developing the digital backbone of renewable energy trading 

During 2023, Centrica Energy Trading A/S contracted a third-party portfolio counting 13GW of wind and solar assets, equivalent to supplying approximately 9 million households with green electricity. Managing growing volumes of fluctuating power from renewable energy sources and flexible assets, further investments in technologies and advancement of forecasting, algorithms, and the capabilities of our digital platforms were made throughout 2023.  

“We have continued our work with developing new solutions and enabling investments in renewable energies, including flexible technologies such as batteries and electrolysers, that help us make the most of cheap and green electricity when we have it. Right now, we manage more than 300MW of grid-scale battery assets across the UK and Belgium through our in-house developed platforms that are designed to optimise solar, wind, and battery assets.” said Kristian Gjerløv-Juel

We’re a Great Place to Work, for all  

Building on its Great Place To Work® recognition, Centrica Energy Trading A/S was also awarded in the ‘Best Workplaces in Denmark’ category, with an 8th place on the Top-25 list of organisations with 50-499 employees, alongside a nomination in the category ‘Best Workplaces in Denmark for Women’. These recognitions were driven by initiatives such as the Centrica Women’s Network, that works to boost the representation of women in the energy sector.  

 “We’re an attractive workplace, operating in a market that’s only growing, and of course that influences our ability to deliver strong financial results year after year. That means we also need to deliver for our people, so I’m very proud that we were nominated as one of the Best Workplaces in Denmark for gender equality in 2023 – and without revealing too much, taking home 1st place in 2024. We were nominated as one of Denmark’s Best Workplaces by Great Place to Work in 2023 and 2024, demonstrating that our initiatives to create a fantastic workplace for all have been effective.” said Chief Marketing & Strategy Officer, Nanna Damgaard Glad. 

View Centrica Energy Trading A/S’s annual report for 2023 and the financial annual report here.