High prices have Ørsted's hopes up despite low wind

Primary operations in the offshore wind business enters deficit, with wind in general only just kept afloat by onshore. The real rescue, however, comes from the company's electricity and, not least of all, gas sales.

Photo: Ørsted

A single month of poor wind during the fall would prompt a downgrade, said utility Ørsted in its half-year interim report, warning that its full-year result would land in the lower end of the already announced spectrum. But although wind speeds on average have been sluggish at 7.6 meters per second – a normal wind year sees the average speed at 8.6 meters per second – no such bad news is announced.

On the contrary, the company sees major advancement on its top line, with revenue at DKK 14.5bn, and a decent result at a profit of DKK 487m. While this is infinitely lower than the DKK 12bn booked for Q3 last year, that quarter saw the sale of distribution system operator Radius finally close.

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