The all you need to knows about DONG Energy
DONG Energy is formerly known as Dansk Naturgas and Dansk Olie og Naturgas, thus the abbreviation of the word “DONG.” It is an integrated energy company which is considered as the largest one in Denmark.
It was founded in Fredericia, Denmark on 1972, distributing gas and oil resources. However, it started its expansion in the 2000s, marketing itself in electricity companies. In 2005, the company has obtained and merged with Elsam and Energi E2 (electrical power producers) and NESA, Københavns Energi and Frederiksberg Forsyning (public utility companies), thus DONG Energy was created. Finally, it received its approval from the European Commission on March 14, 2006.
The following year, DONG gained access to the Dutch market and in 2010, it established a cooperation with Dutch De Nederlandse Energie Maatschappij. Finally, in 2016, the company landed on the 11th spot of the Clean200.
DONG Energy Portfolio
Primarily, the energy supplier’s activities happen in Northwestern Europe. But instead of their products and services alone, DONG Energy plans to create value for their shareholders, customers, and the Denmark community. Their strategy is to identify and improve their weak areas and strong points that would differentiate them to their competitors.
DONG Energy, which was founded in 2006, is a merge of six Danish companies: DONG, Energi E2, Elsam, Københavns Energi, NESA, and Frederiksberg Forsyning.
They are divided into four businesses: Bioenergy & Thermal Power, Wind Power, Oil & Gas, and Distribution & Customer Solutions.
Mission, Vision & Objectives
DONG Energy’s mission is to produce and enable energy systems that are sustainable, economical, ad independent.
Meanwhile, their vision is to become the leading energy transformation.
The objectives of DONG Energy is to hold on to the leading position of the global market and support the growth of the company and its profit. The Danish company also plans to expand its installed capacity. In addition, their aim is to constantly reduce electricity costs from offshore wind, economies of scale, and innovation.
The energy supplier is working based on five principles: integrity, passion, team, results, and safety.
Integrity – DONG Energy vows to be open, trustworthy, and with high ethical standards.
Passion – The company is not only pure business, instead, they work with passion.
Team – Their team is diverse, but the respect and trust are always present.
Results – DONG Energy takes ownership seriously and makes sure that the job is done correctly.
Safety – The company sees to it that they will not compromise on any safety standards
Wind turbines play a vital role in transforming to clean energy and DONG Energy has taken advantage of this platform. The company has built the most number of offshore wind farms substance and by 2020, they aim to exceed the installed capacity from 3.0 GW to 6.5 GW.
Using the Wind Power business unit, DONG Energy promises to continuously develop their procedures without compromising the environment, quality, and safety.
Offshore wind farms are constantly built to generate cleaner energy while ensuring the safety of their employees and nature. Moreover, they put an effort in reducing the cost of electricity using the offshore wind power.
Bioenergy & Thermal Power
Although CO2 emission is always present in the production of energy, DONG Energy reduces the harmful substance by integrating the use of bioenergy and thermal power. They made this possible by transforming their heat production and electricity from coal to sustainable biomass. The company also guarantees to work with zero accident culture.
DONG’s power stations are well-known; it is considered as one of the most flexible and efficient worldwide and it plays an important role in the Danish energy system.
Distribution & Customer Solutions
DONG Energy prioritizes their customers and safety at all times. Their goal is to achieve great customer satisfaction with zero accidents on their employees and providers.
As a supplier, DONG Energy disseminates energy in the Northern Zealand, and Greater Copenhagen. Moreover, they put their attention in the growth of energy-efficient customer solutions that would help them attain their goal in terms of the customers and safety.
Oil & Gas
DONG Energy works at their best, all the time. This is to ensure that accidents, although it occurs unexpectedly, will be prevented as much as possible. They are also aware of the effects of the quality of work. In addition, the company believes that every individual has the right to have a healthy work-life balance.
Energy is significant, however, it may cause several negative effects such as climate change. Therefore, most companies are thinking of sustainable ways to lessen the risks.
DONG Energy has maximized its ways on how to work efficiently while at the same time, being responsible to the people and the environment. The company has developed sustainability programs as part of their sustainable strategies.
Climate and Environment: This program helps in reducing climate change while securing the natural resources.
People: This program is specialized in developing human resources.
Energy Supply: This program improves the energy assets while providing a stable and green energy supply.
Communities: This program is designed to assist their stakeholders.
Zero Coal In 2023
As part of their advocacy in sustainability, DONG Energy has decided to stop using coal as fuel to the power stations. This will take place in 2023 as they transform into a sustainable energy system and a top green energy company.
In 2006, DONG Energy has pushed their efforts by lessening the coal consumption to 73%. In 2023 though, they plan to stop its consumption completely. Therefore, instead of the arsenic-producing coal, they will use sustainable biomass rather.
Currently, over 40% companies use coal for producing electricity. However, because of its risk, DONG Energy decided to phase out coal for good, making it as the first huge European energy company to stop its usage in terms of producing heating and electricity.
DONG Energy IPO
The Danish state-owned company is considered as one of the biggest electricity suppliers in the household and the leading energy groups in the Northern Europe. DONG Energy generates one-third of the district heating in Denmark.
The Danish parliament has been listed on the stock exchange in September 2015. However, the actual listing happened on June 9, 2016.
Information stated above from research in May 2017