Andel

What Andel does

Andel is a Danish cooperative energy and fibernet conglomerate founded in 1912 and headquartered in Svinninge, Denmark. It is owned by approximately 2.8 million cooperative members and operates through a holding structure (Andel Holding A/S) with a representative assembly as its highest governance body. Through its subsidiaries Cerius and Radius Elnet, Andel acts as a regulated electricity distribution system operator in eastern Denmark, supplying 40 percent of national electricity to 1.4 million grid customers across a 44,000 km network maintained at 99.99 percent uptime by Nexel. Andel Energi serves 1.2 million private and business customers with electricity, gas and energy advisory; Clever operates Denmark's largest EV charging network with over 34,000 charge points; Fibia provides fiber broadband to 600,000+ households; Energi Danmark (63.6 percent owned) trades electricity across the Nordics and Germany; and Watts delivers a consumer energy assistant app with 750,000 downloads.

The group's technology stack spans regulated grid infrastructure, digital consumer platforms (Andel Energi app with 1M+ downloads and 300,000+ MAUs; Watts app with 570,000 active users), and emerging technology bets including the GridScale hot rock energy storage system developed with Stiesdal Storage Technologies at Rødby. It also holds a 5 percent stake in Ørsted, co-owns offshore wind tenders with Copenhagen Infrastructure Partners (Hesselø and Kriegers Flak II, at least 1.8 GW combined), and operates renewable assets including the Rødsand 2 offshore wind farm and Tryggevælde Solar Park. AI and data capabilities are limited to price forecasting, consumption analytics and self-service features in its consumer apps rather than proprietary models.

Andel's revenue model is a hybrid of regulated grid tariffs (subscription/recurring), commodity-based electricity and gas retail (subscription/recurring), transaction-based EV charging and energy trading, and fiber broadband subscriptions. Pricing varies from time-of-use hourly residential electricity (averaging 53 øre/kWh in 2024) to usage-based EV charging, fixed-price business electricity contracts, and DKK 249/month home charging box subscriptions through Clever. FY2025 revenue was DKK 103.9 billion (up from DKK 83.5 billion in 2024) with EBITDA of DKK 3.1 billion and investment of DKK 8.1 billion, supporting a publicly stated DKK 90 billion green transition investment program through 2035.

Name

Andel

Legal name

Andel Holding A/S

Website

https://andel.dk

Company type

Private

Founded year

1915

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Andel is a Danish cooperative energy and fibernet conglomerate serving 2.8 million members and customers through regulated electricity distribution (40% of Denmark), retail energy supply, Denmark's largest EV charging network, fiber broadband, and energy trading across the Nordics.

Ownership category

akta.pro rank

Product category

Electricity and Energy Distribution

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Electric, Gas & Sanitary Services (4900), Electric Services (4911)

akta.pro primary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

akta.pro secondary industries

Charging Network Operators & CPOs Offering Smart Charging/V2G (EUAFAMAD), Balancing & Ancillary Services Optimization / Automated Bidding (Algo Trading) (EUAGAKAJ), Customer Energy Engagement (In-Home Displays, Portals, Usage Insights) (EUADAFAH), Ancillary Services Aggregation & Bidding Optimization (DER/VPP participation) (EUAFALAJ)

Keywords

• Electricity distribution
• Retail energy supply
• EV charging network
• Fiber broadband services
• Renewable energy production

Headquarters

HQ city

Svinninge

HQ country

Denmark

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Energy Sales (Electricity and Gas): Andel Energi sells electricity and gas to over 1.2 million private and business customers in Denmark. Revenue is generated through energy supply contracts with pricing that may be time-variable (hourly prices) or fixed for defined periods.
2. Electricity Grid Distribution: Through subsidiaries Cerius and Radius Elnet, Andel operates and maintains electricity distribution networks serving eastern Denmark, covering 40% of electricity supplied in Denmark and 1.4 million grid customers.
3. EV Charging Network: Clever operates Denmark's largest EV charging network with over 34,000 charging points. Revenue comes from charging sessions, home charging box sales/installations, and subscriptions.
4. Fiber Broadband: Through Fibia, Andel provides fiber broadband to 600,000+ households passed with fiber network. Offers consumer choice of internet service providers including Waoo.
5. Energy Trading: Energi Danmark (63.6% owned) operates in physical and financial electricity trading, carbon emissions trading, gas trading, wind energy, and portfolio management, serving corporate customers across Nordic countries and Germany.
6. Renewable Energy Production: Energy production through Rødsand 2 Offshore Wind Farm, Tryggevælde Solar Park, and ownership stake in Ørsted (5%). Revenue from electricity generation and potential capital gains.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

Andel is a Danish cooperative energy and fibernet group that sells electricity and gas to over 1.2 million private and business customers through Andel Energi, operates 44,000 km of electricity grid serving 1.4 million customers via Cerius and Radius Elnet, runs Denmark's largest EV charging network with 34,000+ charge points through Clever, and delivers fiber broadband to 600,000+ households via Fibia. The company also engages in renewable energy production (offshore wind, solar) and corporate energy trading across the Nordics and Germany through Energi Danmark, all under a cooperative ownership model serving approximately 2.8 million customer relationships.

Product overview

Andel is Denmark's leading energy and fibre-optic group operating as a cooperative society with subsidiaries. The portfolio consists of multiple distinct brands: Andel Energi (core retail energy for 1.2M+ customers), Watts (digital energy assistant app), Clever (EV charging network with 34,000+ charge points), Nexel (grid operations for 44,000 km of electricity grid), Fibia (fibre network for 600,000 households), Andel Lumen (street lighting), and Energi Danmark (energy trading across Nordic countries and Germany). The company also holds a 5% stake in Ørsted and has invested in GridScale hot rock energy storage technology with Stiesdal Storage Technologies. Digital offerings include the Andel Energi consumer app and Andel Energi Erhverv business app, both providing consumption tracking and price forecasting. A major fusion of Andel Energi, Clever and Watts was announced to create Denmark's largest integrated energy company combining electricity agreements, heat pumps, household batteries, charging solutions and intelligent energy management.

Differentiator

Problem solved

Functional benefit

Brands

• Clever: Denmark's largest EV charging network with over 34,000 charge points
• Watts
• GridScale
• Andel Energi
• Andel Lumen
• Mind Energy

Products and services

• Andel Energi Electricity and Gas Supply

Quantifiable outcome

• 40% of Denmark's electricity supplied through Andel grid companies
• +4 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability3 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered minor, flagship and core.

• SIF GruppenminorChannel Partner/ Reseller/ Distributor · 1 October 2024SIF Gruppen, one of Denmark's oldest installation companies, acquired Andel Lumen's business for installation of charging stations. Andel Lumen is phasing out its public lighting business.
• Copenhagen Infrastructure Partners (CIP)flagshipStrategic or Co-development Partner · 15 September 2023Strategic partnership to form consortium for two offshore wind farm tenders: Hesselø Offshore Wind Farm in Kattegat and Kriegers Flak II in the Baltic Sea. Combined capacity of minimum 1.8 GW to power equivalent of 2 million homes. CIP brings expertise in development, construction, and operation of offshore wind farms. Andel invests DKK 90 billion in green transition through 2035.
• Stiesdal Storage TechnologiescoreStrategic or Co-development Partner · 27 January 2022Partnership to develop GridScale hot rock energy storage technology. Uses crushed stones in insulated steel tanks to store electricity from renewables. Facility being built at Rødby, Lolland with proximity to Rødby Varmeværk district heating plant. Technology demonstrated through Danish innovation projects at DTU Risø. Storage can reach ~600°C and retain heat for many days.
• ClevercoreStrategic or Co-development PartnerDanish EV charging company acquired by Andel. Clever operates Denmark's largest EV charging network with 34,000+ charging points. Co-founded by Casper Kirketerp-Moller in 2012. Phased out middle management starting in 2019 and completed transition to flat structure in 2025. Andel agreed to maintain Clever's self-managed organizational structure.
• Roskilde FestivalminorGTM or Marketing PartnerEnergy partnership creating solutions that make it easier to celebrate with consideration for the environment. Part of Andel's community engagement and brand building among younger demographics.
• BogforumminorGTM or Marketing PartnerThree-year partnership launching new climate stage for conversations about climate, nature, and green transition. Aligns with Andel's mission to support the green transition and community engagement.
• ParkenminorGTM or Marketing PartnerSponsorship partnership providing visibility and brand association with major Danish sports venue.
• Impagt Invest SjællandminorGTM or Marketing PartnerPartnership supporting impact investment initiatives in the Zealand region.
• Rødby VarmeværkminorStrategic or Co-development PartnerDistrict heating plant neighboring the GridScale hot rock energy storage facility at Rødby. Potential synergy for heat recovery from storage operations.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SEAS-NVE: Danish cooperative energy company similar to Andel, providing electricity distribution, retail supply, fiber broadband, and EV charging to customers across Zealand and southern Denmark. Closely comparable cooperative utility model, Danish-only footprint, and vertically integrated infrastructure portfolio.
• NRGi: Danish cooperative utility operating in eastern Jutland, providing electricity grid, retail energy, and broadband services. Partner in Energi Danmark (NRGi owns 36.4%) and directly comparable as a member-owned Danish DSO facing the same regulatory and electrification dynamics.
• ChargePoint: US-headquartered EV charging network operator and software provider. Comparable to Clever (Andel's subsidiary) as a charging network operator with both public charging points and home/workplace charging solutions, though operating at much larger geographic scale across North America and Europe.
• Allego: European EV charging network operator with pan-European charging infrastructure including Denmark. Comparable to Clever as a European-focused CPO with public charging points, smart charging technology, and home charging solutions serving similar customer segments.

Broad incumbents

• Ørsted: Denmark's largest energy company and global offshore wind leader. Andel holds a 5% stake in Ørsted, making it both a major financial partner and the dominant Danish energy incumbent whose offshore wind build-out overlaps with Andel's own renewable ambitions through the CIP consortium.
• E.ON: German-headquartered European utility major with extensive distribution networks, retail supply, and energy services across multiple countries. Comparable as a large incumbent utility undergoing similar green transition, digitalization, and EV charging build-out initiatives.
• Enel: Italian-headquartered global utility with electricity distribution, renewable generation, retail supply, and EV charging infrastructure across Europe and the Americas. Comparable vertically integrated utility with similar digital customer engagement and electrification roadmap.

Regional players

• Vattenfall: Swedish state-owned utility operating across the Nordics including Denmark, with electricity distribution, retail supply, and renewable generation. Comparable vertically integrated utility with similar regulatory exposure, customer mix, and renewable transition focus.
• Statkraft: Norwegian state-owned renewable energy generator and major European power market participant. Comparable as a Nordic state-backed utility with significant renewable generation assets and trading operations across European energy markets.
• Fortum: Finnish state-owned utility operating across the Nordics and Baltic region with electricity generation, distribution, retail supply, and EV charging initiatives. Comparable Nordic utility with similar diversified energy services model and exposure to the same electrification trends.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/andelholdingas
• Facebookfacebook.com/andeldk
• LinkedInlinkedin.com/company/andeldk
• Instagraminstagram.com/andel.dk
• Xx.com/andel_dk

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Andel