On Thursday, energy supplier Encevo presented its yearly report for 2022 - a year of many uncertainties, with energy prices driven up by Russia’s invasion of Ukraine.
Encevo, which owns Creos and Enovos, said it did not pass the full evolution of wholesale prices on to customers. The price cap, decided by last autumn’s tripartite meetings, helped to keep energy prices stable in the medium term.
General director Claude Seywert said he could not predict when gas and energy prices would fall below the price cap once again, but did not think it would happen in 2023.
The next winter brings further uncertainty, with the conflict still raging in Ukraine, as well as unpredictable weather patterns and temperatures.
In 2022, the group also made record investments for a total amount of 272 million euros, mainly in the sector of renewable energies and electricity networks. The energy transition remains a priority at Encevo. The group’s net profit for 2022 was around 107 million euros, compared to almost 80 million in 2021.
