Ellevio

What Ellevio does

Ellevio AB (publ) is one of Sweden's largest electricity distribution grid companies, operating regional and local network infrastructure across multiple Swedish counties including Stockholm, Dalarna, Gävleborg, Halland, Jämtland, Värmland, Västra Götaland, Västernorrland, and Örebro. Founded in 2015, the company serves approximately 1 million residential and business customers through voltage levels ranging from 40 kV to 220 kV, delivering regulated electricity distribution under concession areas overseen by the Swedish Energy Markets Inspectorate (Ei). The company reports through three legal entities: Ellevio AB (publ), Ellevio Energy Solutions AB (solar, charging stations, battery storage, Power-as-a-Service), and Ellevio Sverige AB (group shared services).

The company's core technology stack centers on physical grid infrastructure augmented by smart grid digitalization, including line agents (linjeagenter) mounted on overhead lines to reduce outage times, OT infrastructure for monitoring producers, consumers, and prosumers, and a partnership with Gomero for grid analytics. Customer-facing digital tools include the Ellevio App (iOS/Android with BankID authentication) offering real-time consumption monitoring via SaveEyes integration, usage forecasting, family sharing, and spot price comparison, plus the Mina sidor web portal. Notable infrastructure assets include Sweden's largest grid battery (10 MW at Grums for Svenska kraftnät balancing services), dedicated substations for data center operators (atNorth SWE02 and Conapto Stockholm 4 South), and new 145 kV infrastructure under construction in Mariestad for Volvo's planned battery factory.

Ellevio's revenue model is primarily subscription-based through regulated network tariffs (nätavgifter) under a revenue cap (intäktsram) set by Ei, structured as a fixed monthly fee based on fuse size plus a variable transmission fee based on kWh usage, returning to a fuse-based model from 1 June 2026. The company generated SEK 8,902 million in net sales in 2025 with SEK 2,906 million operating profit, supported by a SEK 5,592 million capital expenditure program. Funding is sourced through a combination of operational cash flow, a EUR 500 million green bond (May 2025), and a SEK 1 billion NIB 10-year loan (October 2022). The company operates as an unregulated investment entity in legal form (AB (publ)) but with no public stock exchange listing, maintaining privately-held ownership.

Name

Ellevio

Legal name

Ellevio AB (publ)

Website

https://www.ellevio.se

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ellevio is a Swedish regulated electricity distribution utility serving approximately 1 million customers across multiple Swedish counties, operating regional and local grid infrastructure from 40 kV to 220 kV, complemented by Energy Solutions in solar, EV charging, and battery storage.

Ownership category

akta.pro rank

Product category

Electricity Distribution / Utility Grid Services

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

Investor-Owned Electric Distribution Utilities (IOUs) (EUADABAA)

akta.pro secondary industries

DER & Microgrid Interconnection / Grid Edge Integration Services (EUAEANAF), Market Access, Bidding & Settlement Services for Aggregators (ISO/RTO, Balancing) (EUAFAHAH)

Keywords

• Electricity distribution services
• Regulated grid operator
• Smart grid infrastructure
• Electricity network operator
• Energy solutions provider

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Electricity Grid Transmission and Distribution: Ellevio operates as a regulated electricity distribution company (elnätsföretag) in Sweden, providing electricity transmission and distribution services. Revenue is generated through network fees (nätavgifter) charged to customers for electricity distribution, based on a regulated revenue cap (intäktsram) set by the Swedish Energy Markets Inspectorate (Ei). The company operates in both regional networks (regionnät) and local networks (lokalnät) across multiple Swedish counties, with network tariffs structured around a fixed monthly fee based on fuse size and a variable transmission fee based on electricity usage. The company is returning to a fuse-based grid fee model from 1 June 2026, having previously offered a pricing model without effect charges.
2. Energy Solutions (Ellevio Energy Solutions AB): Ellevio Energy Solutions AB offers energy-related products and services to customers including solar panels, charging stations (laddbox), and battery storage. The company also offers Power-as-a-Service. Interest inquiries collected via the website are forwarded to partner suppliers. Revenue includes direct product sales and referral/commission arrangements with partner suppliers. Additionally, Ellevio has built Sweden's largest electricity grid battery (10 MW) in Grums for grid balancing support to Svenska kraftnät.

Pricing tiers

Distribution channels5 records

Marketing channels8 records

Core offering

Ellevio operates as a regulated Swedish electricity distribution utility (elnätsföretag), providing electricity transmission and distribution services through regional and local grid networks serving approximately 1 million customers. Revenue is generated through network fees (nätavgifter) regulated by the Swedish Energy Markets Inspectorate (Ei). The company complements its core grid services with Ellevio Energy Solutions AB offerings (solar panels, charging stations, battery storage) and digital customer tools (Ellevio app, Mina sidor portal).

Product overview

Ellevio operates as a Swedish electricity grid company (elnätsföretag) offering a unified portfolio of grid distribution services and digital customer tools. The core offering consists of electricity grid infrastructure services (Elnätsavtal) delivered through physical network infrastructure, complemented by digital self-service platforms: the Ellevio App (mobile application for iOS/Android) and Mina sidor (web portal). The Energy Solutions subsidiary extends the portfolio to energy-related products including solar panels and charging stations. Additional offerings include Power-as-a-Service for flexible energy access, and the Startup 4 Climate innovation program. Together these products serve residential and business customers across Sweden's concession areas.

Differentiator

Problem solved

Functional benefit

Products and services

• Ellevio Elnätsavtal (Electricity Grid Service Agreement) Regulated electricity transmission and distribution service agreements for residential and business customers within Ellevio's concession areas across Sweden. Pricing structured as a fixed monthly fee based on fuse size (16A to 63A) plus a variable transmission fee based on electricity usage, with the company returning to a fuse-based grid fee model from 1 June 2026.
• Ellevio App

Quantifiable outcome

• Distribution capacity in Stockholm increased by ~800 MW through substation rebuild and expansion
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered major, core, minor and flagship.

• atNorthmajorTechnology or Integration · 29 January 2026Ellevio is building a new electrical substation to support atNorth's 30MW metro data center (SWE02) in Stockholm, scheduled to go live Q4 2027. The substation is part of atNorth's campus expansion near its existing Kista facility. This partnership positions Ellevio as critical power infrastructure provider for data center operators.
• Stockholm ExergimajorStrategic or Co-development Partner · 29 January 2026Stockholm Exergi collaborates with atNorth on heat reuse capabilities for the SWE02 data center, allowing excess heat from the facility to be recycled for use within the local Stockholm community. Ellevio is building the power infrastructure for this sustainable data center project.
• ConaptomajorTechnology or Integration · 24 October 2025Ellevio provides 8 MW of additional power capacity to Conapto for the expansion of its Stockholm 4 South data center (from 20 MW to 28 MW total), scheduled to be operational by 1 January 2026. The expansion supports growing demand for AI, digitalization, and cloud services in the Stockholm region.
• GomerocoreTechnology or Integration · 6 March 2025Ellevio partners with Gomero to develop smart grid capabilities by connecting more facilities and introducing new technology for monitoring and maintenance. This partnership aims to create a more efficient, stable, and sustainable electricity grid, contributing to Ellevio's Vision 2030 for smart grid deployment.
• Volvo (battery factory, Mariestad)coreTechnology or Integration · 1 January 2024Ellevio is building and reinforcing the electricity grid in Mariestad to enable Volvo's planned battery factory at Korstorp industrial area. This includes a new switching station, 145 kV overhead power lines (~2 km), and capacity upgrades. Volvo's battery factory is a landmark industrial electrification project in Sweden. A concession for the power lines was approved by the Energy Markets Inspectorate in early 2024.
• Svenska kraftnät (Swedish National Grid)coreStrategic or Co-development Partner · 9 June 2023Ellevio's 10 MW grid battery in Grums (Sweden's largest electricity grid battery, built via Ellevio Energy Solutions) provides balancing services to Svenska kraftnät to help maintain stability in the national electricity grid and enable increased integration of wind and solar power.
• RISE (Research Institutes of Sweden)minorStrategic or Co-development Partner · 9 June 2023RISE is cited as a key research partner in the Swedish battery ecosystem. Claes Winzell from RISE is quoted discussing battery production and Sweden's readiness to become a leading battery nation in Europe. Ellevio's grid investments in areas like Mariestad are part of the broader ecosystem RISE supports.
• GodElflagshipGTM or Marketing Partner · 24 May 2023Ellevio and GodEl co-organize Startup 4 Climate, Europe's largest innovation competition in the energy transition space. The competition aims to find and support startups with climate-positive solutions. The prize pool is 2 million SEK, with a final event held annually in November. Ellevio's CEO Johan Lindehag is a jury member and co-founder of the competition.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Fortum: Fortum is a large Nordic energy group with regulated and unregulated operations across Finland and Sweden, including distribution and district heating. While its portfolio is much broader than Ellevio's, its Swedish grid assets and exposure to Nordic electrification policy make it a benchmark incumbent peer.
• Svenska kraftnät: Svenska kraftnät is the Swedish national grid operator and counterparty for Ellevio's 10 MW Grums battery balancing services. As the TSO above Ellevio in the Swedish grid hierarchy, it is a directly relevant peer for understanding transmission economics, ancillary services markets, and the regulatory environment in which Ellevio's distribution business operates.
• Statnett: Statnett is the Norwegian transmission system operator (TSO) — the bulk-transmission counterpart to Sweden's Svenska kraftnät. It is comparable as a Nordic regulated grid operator with substantial capex programs for grid reinforcement and renewable integration, providing valuation and capital-structure benchmarks relevant to Ellevio's growth trajectory.

Regional players

• Göteborg Energi: Göteborg Energi (Gothenburg Energy) operates the local electricity distribution network for Gothenburg and surrounding areas, alongside district heating and gas. It is a relevant peer for large-municipality network operations in Sweden and serves comparable industrial and residential load profiles.
• Skånska Energi: Skånska Energi operates local electricity distribution networks in southern Sweden (primarily Skåne). It is a smaller regional peer to Ellevio, useful for understanding concession-area economics and tariff models outside Stockholm and the major urban centers where Ellevio is concentrated.
• Mälarenergi: Mälarenergi is a vertically integrated energy company based in Västerås operating local electricity distribution, district heating, and water services in central Sweden. It is comparable to Ellevio as a Swedish regional/local network operator with overlapping regulatory exposure and similar industrial-customer base in the Mälardalen region.
• Jämtkraft: Jämtkraft is a regional Swedish energy company operating electricity distribution, generation, and heating primarily in Jämtland county. Its regulated distribution business overlaps with Ellevio's network geography in northern Sweden, making it a relevant peer for regional network operations and capex benchmarks.
• Affärsverken: Affärsverken operates electricity distribution, district heating, water, and broadband in Karlskrona and Blekinge. As a multi-utility Swedish network operator, it provides comparison points for smaller-scale grid investment cycles and smart-grid rollout economics relevant to Ellevio's regional subsidiaries.

Direct peers

• Vattenfall Eldistribution: Vattenfall's Swedish electricity distribution business operates regulated regional and local networks serving millions of customers across Sweden. It is Ellevio's closest direct competitor within the same concession-area, regulated-utility model and faces the same revenue cap from the Swedish Energy Markets Inspectorate.
• E.ON Energidistribution: E.ON's Swedish grid unit operates regulated electricity distribution networks in southern Sweden. Like Ellevio it is a regulated DSO serving residential, commercial, and industrial customers under the Ei revenue-cap framework, making it a directly comparable peer for tariff structure, capex intensity, and operational metrics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@EllevioGroup
• Facebookfacebook.com/EllevioAB
• LinkedInlinkedin.com/company/ellevio
• Instagraminstagram.com/elleviogroup
• Xx.com/EllevioAB

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ellevio