Stromnetz Hamburg presents positive annual report for 2022

Urban electricity provider announces huge investments in grid and more apprenticeship places
31 May 2023
Ein Strommast mit Leitungen vor blauem Himmel

Stromnetz Hamburg made a profit of EUR 89.8 million in 2022 and will transfer the full amount to the City of Hamburg, according to its annual report presented Friday (May 26, 2023). The company has also announced major investments as charging stations for electric cars, heat pumps and hydrogen electrolysers are expected to overload the grid in future. This comes after an investment of EUR 496.9 million last year in maintaining, expanding and digitizing its infrastructure.

Resilient network with intelligent controls

"Our results show that we have a solid foundation and are equipped for a successful future. The investments made are an important step towards meeting the demands of energy supply in future," said Dr Andreas Cerbe, Managing Director of Stromnetz Hamburg GmbH. Most of the investments went towards expanding the medium and high-voltage grids. Given the impact of climate change, strategies for a resilient grid were developed, including key substations and intelligent control options. The goal is to find the right balance between security of supply, economic efficiency and environmental compatibility, Cerbe pointed out.

Pursuing city's environmental and climate goals

"Stromnetz Hamburg is a reliable municipal company that is putting the important and urgent energy transition into practice and is preparing for the energy policy challenges of the future," said Jens Kerstan, Senator for the Environment. The structure of the electricity grid must be adapted and expanded as the load is expected to increase significantly in all customer groups over the next years, Stromnetz Hamburg said. Thus, significantly more investments were made in the electricity grid in 2022 than in 2021. "The climate and energy transition network of the future must be able to absorb and transport increasingly, decentrally-generated electricity," Kerstan remarked.

New focus on air-conditioning 

The City of Hamburg bought back Stromnetz Hamburg from Vattenfall in 2014 following a referendum. The company is now trying to counteract the shortage of skilled labour and has increased the number of apprenticeship places from 35 to 43. Stromnetz Hamburg is also training industrial electricians who are qualified in solar technology and personnel from the air-conditioning sector given the growing demand in renewable energies.