Energy provider Encevo, comprising Enovos and Creos, witnessed a year of sustainable growth in 2023, reflected in positive figures and promising medium-term price trends. However, uncertainties loom over future electricity and gas rates for consumers.
The trajectory of prices hinges largely on evolving purchasing dynamics. Encevo secures international market purchases over three-year periods, which provides a buffer against sudden price surges. However, as price caps are slated to be lifted in 2025, consumer bills are anticipated to surge.
Recent projections by the National Institute of Statistics and Economic Studies (STATEC) suggest a steep 60% surge in electricity prices and a 17% uptick in gas prices. Claude Seywert, Encevo's General Director, corroborates these forecasts, indicating significant impending increases:
"Yes, we have a similar view... This indicates minimal changes for gas consumers. However, for electricity consumers, absent subsidies or phase-out strategies, we anticipate hikes ranging between 40-50%."
On the business front, Encevo reported a net profit surge to €171 million, enabling the group to distribute dividends. Revenues climbed by 1.6% to surpass €5 billion.
Investments soared to a record-high of €336 million, with a continued focus on network infrastructure, particularly in the realm of renewable energies.
Renewables, such as wind and solar energy, are gaining prominence in the national electricity market, spurring ongoing investment initiatives, including those in the Greater Region. Additionally, hydrogen is earmarked to play a pivotal role in Encevo's medium-term strategy.
