Annual report 2022

Forside 2


In 2022, Hafslund established a long-term strategy that sets the direction for Hafslund towards 2035. The Group’s strategy is based on five strategic focus areas; we will contribute with strong renewable growth, balance the energy system of the future and contribute to creating greener and smarter cities. In addition, Hafslund shall have the best minds.

Important events

2022 was an exceptional year for Hafslund, as well as for the rest of the energy industry and the greater world. A new year with record high power prices, the acquisition of Hafslund Oslo Celsio and acceleration of our projects within offshore wind and solar power were some of the key events.

Hafslund Oslo Celsio

An energy- and infrastructure group

After the acquisition of Hafslund Oslo Celsio, the Group now consists of three distinct business areas and subsidiaries; Hafslund Eco Vannkraft with Norway’s second largest hydro power operation, Hafslund Oslo Celsio that is Norway’s largest district heating provider and Hafslund Vekst that gathers the Group’s growth initiatives and industrial ownerships.

Eirik Folkvord Tandberg
A word from the CEO

A world in imbalance requires more renewables

2022 was an eventful and challenging year. The war in Ukraine has, first and foremost, caused great suffering for the people of Ukraine, however it has also resulted in serious negative repercussions for the rest of the global community. Gas shortages in Europe have led to extremely high gas prices and European power prices. Dry weather conditions in Southern Norway and low reservoir levels, combined with European prices, contributed to very high power prices in Southern Norway throughout the year.

Key figures

Profit after tax

4,344 NOK million

Hydropower production

13.8 TWh

Greenhouse gas emissions

459,554 tCO₂e

Sorting rate

89 %

Number of employees


Number of injuries

2.9 per million hours worked