Investments in the power grid: millions in profit for the city

Hamburg (dpa / lno) – The Hamburger Stromnetzgesellschaft continues to invest hundreds of millions in the expansion of the network infrastructure – and at the same time has once again made millions in profits for the city’s budget. “Hamburg is growing and Hamburg needs electricity – the municipal power grid company distributes the electricity in Hamburg and is at the same time a driver of innovation for the energy transition,” said Environment Senator Jens Kerstan (Greens) on Monday when the municipal network operator in Hamburg presented the annual report.

Investments increased again in 2020 to 228 (previous year: 222) million euros. They have almost doubled compared to 2016 (117 million), as the company reported. The bottom line was a profit of 93.4 (previous year: 91.9) million euros, which will benefit the Hanseatic City of Hamburg as the owner. After a referendum, the city took over the power grid from the utility Vattenfall with retroactive effect from January 1, 2014 and paid more than 610 million euros for it.

Even during the Corona crisis, security of supply in the city was guaranteed at all times, reported the city company. The quality of supply for 2020 is given as an average of 9.5 minutes (previous year: 9.2) minutes of disruption per customer and year.

© dpa-infocom, dpa: 210531-99-806729 / 2

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