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Over the last twenty years, Denmark has seen a significant reduction in natural gas production, declining from 30% in 2005 to 13% in 2022. In parallel, the utilization of natural gas for electricity generation has dropped from 24% to 3%, and its contribution to the Total Energy Supply (TES) has decreased from 23% to 9%.
The Energi Danmark Group is the largest energy trading company in Denmark and one of the largest in North Europe. [3] Company trades energy physically and financially. Mostly it trades gas and carbon. [4] Due recent growth in revenue Energi Danmark was listed on Fortune 500 list as 60th largest company in Europe by revenue. [1]
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Wind power provided 18.9% of electricity production and 24.1% of generation capacity in Denmark in 2008, [2] Denmark was a pioneer in developing commercial wind power during the 1970s, and today almost half of the wind turbines around the world are produced by Danish manufacturers such as Vestas and Siemens Wind Power along with many component suppliers.
[2] [3] Denmark's economy stands out as one of the most free in the Index of Economic Freedom and the Economic Freedom of the World. [ 4 ] [ 5 ] It is the 13th most competitive economy in the world, and 8th in Europe, according to the World Economic Forum in its Global Competitiveness Report 2014–2015 .
Wind provided 57% of the electricity generated in Denmark in 2019, [38] and at least 47% of Denmark's total electricity consumption in 2019. [38] Denmark is a long-time leader in wind energy, and as of May 2011 [update] Denmark derives 3.1 percent of its Gross Domestic Product from renewable energy technology and energy efficiency, or around ...