Today Ellevio published its year-end report for 2017. During the year, Ellevio’s customer base increased from 918,000 to approximately 939,000 customers. Net sales for the period amounted to SEK 6,894 million and operating profit amounted to SEK 2,161 million.
Ellevio has for several years been working for the possibility of harmonising prices between our different geographical network areas. Network prices currently differ substantially between rural and urban areas. In the end of October 2017, Ellevio was given an approval from the Energy Markets Inspectorate to proceed with the price harmonization.
Johan Lindehag, CEO at Ellevio, comments the decision; “this means that the prices between Ellevio’s urban and rural network areas will converge over time, with moderate price increases in urban areas and price decreases in rural areas. As a first step in this process, Ellevio therefore decreased the prices for customers in Värmland, Skaraborg and Närke with 5 per cent as from December 1, 2017.”
The investments in transforming the energy system has continued according to plan during the year. Ellevio is building reliable, flexible and smart electricity distribution networks, enabling our customers to take control over their own individual production and consumption needs, while also allowing for a safer energy system with a larger share of renewable energy to emerge.
“Between 2016 and 2019 Ellevio will invest approximately 10 billion SEK in our power grids in order to strengthen and modernise the networks. These improvements include renewal and continuing weather proofing in the rural areas, as well as the work to modernize and increase capacity in the growing city of Stockholm and Gothenburg area. Improvements to be able to connect more renewable electricity is another important investment area going forward,” says Johan Lindehag.
At a time when the investments have doubled, many more contractors are working in the field, making the company’s safety work more central than ever before. Safety must come first – in all situations. It is the foundation of a sustainable electricity grid and a prerequisite for the entire business.
During the second half of 2017, Ellevio has initiated several important and exciting projects. In one of Sweden’s largest wind power projects, Ellevio will together with the national grid operator Svenska kraftnät, build an entirely new substation. The station will open up for new possibilities for wind power in Hälsingland and Gästrikland. Another interesting and complex project is the modernisation of the power grids in the Gothenburg and West Coast area. About 27,000 customers will have a future-proof power grid following this project. The West Coast area of Sweden is often exposed to hard weather which increases the risk for power failures. Replacing overhead lines with underground cables will make the grids more resistant and reliable. In addition the installation of components for remote control makes it possible to limit the impact and re-route electricity during power failures. Ellevio’s goal is that the customers should receive an uninterrupted supply of electricity – today, tomorrow and in the future.
Conference call with web presentation of Ellevio Year-End report, 2017
On Friday, March 16, 2018 at 2:30 p.m. CET, Ellevio AB (publ) will arrange a conference call with a web presentation to present its year-end report 2017 for investors and bondholders.
CEO, Johan Lindehag, and Senior Vice President Treasury, Jan Seveborg, will present and comment on the report. After the presentation there will be a Q&A session.
Please register to Maria Bang, Head of Financial and Sustainability Communication at email@example.com, and you will receive dial-ins.
Download the report here.