REG-Ørsted A/S Danish authorities order Ørsted’s oil- and coal-fired power stations into operation

Oersted A/SAnnouncement

01/10/2022 10:30

============

   Ørsted A/S (Orsted)
   Danish authorities order Ørsted’s oil- and coal-fired power stations into
   operation

   01-Oct-2022 / 11:20 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   1.10.2022 11:20:34 CEST | Ørsted A/S | Investor News

   In order to ensure the security of the electricity supply in Denmark, the
   Danish authorities have decided to order Ørsted to continue and resume
   operations of three of its power station units which use oil and coal as
   fuel.

   This applies to unit 3 at Esbjerg Power Station and unit 4 at Studstrup
   Power Station, which both use coal as their primary source of fuel, and
   unit 21 at Kyndby Peak Load Plant, which uses oil as fuel. The two latter
   units have already been decommissioned and preserved, whereas Esbjerg
   Power Station was scheduled to be decommissioned on 31 March 2023.

   Mads Nipper, Group President and CEO of Ørsted, says:

   "In order to ensure the security of the electricity supply, the Danish
   authorities have today ordered us to continue as well as resume operations
   at some of our oil- and coal-fired power stations. We will, of course,
   comply with the Danish authorities’ order, and we'll now begin preparing
   and maintaining the units as well as securing the staffing necessary to
   operate them. We still believe that we, as a society, must phase out the
   use of gas, oil, and coal as soon as possible, but we're in the middle of
   a European energy crisis, and we will, of course, contribute to ensuring
   the electricity supply to the best of our ability."

   Ørsted will be facing a number of technical and staffing issues that will
   have to be solved. Maintenance will have to be carried out at all three
   units to prepare them for operation during the required period. In
   addition, it takes highly specialised workers to operate a power station,
   and they must be trained in operating the specific power station. Ørsted
   expects that it will take time to get everything in place, especially for
   unit 4 at Studstrup Power Station and unit 21 at Kyndby Peak Load Plant,
   but will make every effort to get the units ready for operation as soon as
   possible.

   The Danish authorities have ordered Ørsted to keep the three units in
   operation until 30 June 2024, and Ørsted therefore maintains its goal of
   becoming carbon-neutral by 2025. 

   Facts about the power station units:
   Esbjerg Power Station, unit 3: Coal-fired, can generate 370 MW of
   electricity
   Studstrup Power Station, unit 4: Coal-fired, can generate 360 MW of
   electricity
   Kyndby Peak Load Plant, unit 21: Oil-fired, can generate 260 MW of
   electricity

   For further information, please contact:

   Media Relations
   Carsten Birkeland Kjær
   +45 99 55 77 65
    1 cabkj@orsted.com

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 ir@orsted.com

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive
   biodiversity impact from all new renewable energy projects it commissions
   from 2030 at the latest.   Ørsted ranks as the world’s most sustainable
   energy company in Corporate Knights' 2022 index of the Global 100 most
   sustainable corporations in the world and is recognised on the CDP Climate
   Change A List as a global leader on climate action. Headquartered in
   Denmark, Ørsted employs 7,292 people. Ørsted's shares are listed on Nasdaq
   Copenhagen (Orsted). In 2021, the company generated revenue of
   DKK 77.7 billion (EUR 10.4 billion).  Visit  3 orsted.com or follow us on
   Facebook, LinkedIn, Instagram, and Twitter.

       Attachments

     •  4 Danish authorities order Ørsted’s oil- and coal-fired power
       stations into operation.pdf

   News Source: Ritzau

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  191782
   EQS News ID:   1454857


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    5 fncls.ssp?fn=show_t_gif&application_id=1454857&application_name=news&site_id=reuters8

References

   Visible links
   1. mailto:cabkj@orsted.com
   2. mailto:ir@orsted.com
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=c17d04adc46793f4466471ea992e18f7&application_id=1454857&site_id=reuters8&application_name=news
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=185ee5a12b1139b904a1a590308358e9&application_id=1454857&site_id=reuters8&application_name=news


============