What Fjernvarme Horsens does

Fjernvarme Horsens is Denmark's largest consumer-owned district heating cooperative, structured as an A.m.b.a. (Andelsselskab med begrænset ansvar) and serving 22,400 customers in the Horsens area. The utility produces and distributes heating through a diversified generation mix: a CHP plant at Endelavevej 7, waste-to-energy, a 60 MW biomass fleet, 15 MW of heat pumps, 8 MW of industrial excess heat, a 15 MW electric boiler, and natural gas backup, achieving 78% renewable energy share. Annual production reached 520,000 MWh in 2024, with a 2030 target of 670,000 MWh.

The business model operates on a cost-recovery principle under Danish district heating regulation, with the cooperative structure returning any surplus to consumer-members. Revenue is generated primarily through fixed and variable heating tariffs (average 13,832 DKK per residential customer per year), supplemented by connection fees, industrial excess heat contracts, and electricity sales from CHP and electric boiler operations. In July 2022 the company introduced Motivationstarif, a demand-response pricing model that aligns consumer bills with consumption patterns and supports grid balancing. The 2015 district heating plan expanded the customer base from 8,200 to 22,400 connections, with a 2030 forecast of 25,000 customers. Strategic capacity additions — biomass boilers 3 and 4 (2025–2026) and the 15 MW electric boiler (2021) — extend both renewable production and the asset's ability to participate in electricity-sector flexibility markets.

Name

Fjernvarme Horsens

Legal name

Fjernvarme Horsens A.m.b.a.

Website

https://fjernvarmehorsens.dk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Fjernvarme Horsens is Denmark's largest consumer-owned district heating cooperative, supplying 22,400 customers in the Horsens area with heating from waste, biomass, heat pumps, industrial excess heat, and electric boilers (78% renewable).

Ownership category

akta.pro rank

Product category

District Heating Services

NAICS

Steam and Air-Conditioning Supply (221330)

SIC

Steam & Air-Conditioning Supply (4961), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Waste-to-Energy CHP & District Heating Integration (Heat offtake systems) (EUAAAKAH)

Keywords

• District heating supply
• Combined heat power
• Biomass heating utility
• Consumer-owned cooperative
• Waste-to-energy utility

Headquarters

HQ city

Horsens

HQ country

Denmark

HQ region

Europe

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Heat Sales - Variable Consumption Charge: Revenue from consumption-based charges per MWh of district heating consumed. This is the primary revenue driver and is subject to the motivation tariff adjustment (up to ±35%). Cost-recovery principle means prices must cover actual costs without profit margin.
2. Heat Sales - Fixed Charges (Effect + Subscription): Revenue from fixed annual charges including effect bidrag (power contribution based on property BBR area at 30.63 kr./m2 for up to 400 m2) and subscription bidrag (825 kr./year). Fixed charges are capped at 70% of variable charges under the 70% rule.
3. Connection Fees: One-time fees for new connections including tilkoblingsbidrag (connection fee: 4,500 kr.), installationsbidrag (installation fee per m2: 65 kr./m2 up to 400 m2), and stikledningsbidrag (service line fee: 2,490 kr. per running meter).
4. Electricity Sales: Revenue from electricity generated at the CHP plant through turbines and generators, sold when market prices are favorable. The 30 MW capacity enables electricity production that contributes to district heating as a byproduct (cogeneration achieving 90% energy utilization vs 40% for electricity-only production).
5. Green Energy Certificates: Revenue contribution from renewable energy production certificates (78% renewable energy share) which can be traded or credited under Danish energy certification schemes.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Fjernvarme Horsens produces and distributes district heating to approximately 22,400 residential and commercial customers across Horsens city and surrounding areas in Denmark. Heat is generated from a diversified portfolio including waste-to-energy CHP, biomass boilers, heat pumps, industrial excess heat, an electric boiler, and natural gas peak/reserve capacity, then delivered through an insulated underground double-pipe network. The company operates under the Danish 'hvile-i-sig-selv' (cost-recovery) regulatory principle, charging customers variable consumption fees (685 kr./MWh), fixed effect fees based on property area, and annual subscription fees, with a dynamic motivation tariff rewarding efficient return temperatures.

Product overview

Fjernvarme Horsens is Denmark's largest consumer-owned district heating company, providing heating supply as its core product to approximately 22,400 customers in Horsens and surrounding areas. The company operates a diversified production portfolio including waste-to-energy, biomass, excess industrial heat, heat pumps, electric boilers, and natural gas for peak demand. The product suite includes the E|Forsyning customer portal/app for consumption monitoring, price calculators for prospective customers comparing natural gas to district heating, and motivation tariff calculators for existing customers to track their return temperature-based incentives. The company is subject to the 'hvile-i-sig-selv' (cost-covering) principle, meaning prices must cover costs without profit.

Differentiator

Problem solved

Functional benefit

Brands

• E|Forsyning: Digital self-service platform and mobile application for customers to monitor their district heating consumption, view bills, and manage their account.

Products and services

• District Heating Supply District heating supply (space heating and domestic hot water) delivered through an insulated underground double-pipe network to approximately 22,400 residential and commercial customers in Horsens and surrounding areas. Heat is produced from waste-to-energy CHP, biomass boilers, heat pumps, industrial excess heat, an electric boiler, and natural gas peak/reserve capacity. Customers are billed under a cost-recovery model with variable consumption charges (685 kr./MWh), fixed effect charges by property area, annual subscription fees, and a dynamic motivation tariff that rewards low return temperatures.

Quantifiable outcome

• Annual heating cost of 13,832.75 kr. for standard house (125 m2, 13.4 MWh consumption) vs 21,423 kr. with natural gas = 11,318 kr. savings
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Hamlet ProteincoreStrategic or Co-development Partner · 1 January 2014Local industrial partnership where excess heat from Hamlet Protein's production is captured using large heat pumps and integrated into the district heating network. This partnership exemplifies the circular economy approach of utilizing industrial waste heat, reducing overall energy consumption and carbon emissions.
• Bigadan (Horsens Bioenergi)coreStrategic or Co-development PartnerPartnership with local biogas facility at Gedved where excess heat from biogas production is utilized and supplemented by straw-fired boiler system. The straw comes from the biogas production process and provides an additional 6 MW of renewable heating capacity.
• E|ForsyningcoreTechnology or IntegrationDigital platform partnership providing customers with self-service access to consumption monitoring, billing, document access, and account management. Available as mobile app and web portal, enabling customers to track return temperatures, consumption patterns, and calculated heating accounts including motivation tariff calculations.
• Dansk Fjernvarme (Danish District Heating Association)coreStrategic or Co-development PartnerIndustry association providing shared website platform (fjernvarmehorsens.dk is part of Dansk Fjernvarmes fælles hjemmesideplatform), branch-specific functionality, ongoing development, and professional CMS management. Fjernvarme Horsens website launched June 2026 as part of this shared platform.
• Authorized VVS-Installatører NetworkcoreChannel Partner/ Reseller/ DistributorPartnership with 24 local plumbing companies who are authorized and trained on Fjernvarme Horsens' technical requirements. These installers are listed on the company website and actively recommend and facilitate district heating connections during renovation and construction projects. Partners include Adelholm VVS, Devantier VVS, Egebjerg VVS, Heat-On, HON VVS, and others.
• SektorCERTcoreStrategic or Co-development PartnerCybersecurity center for critical infrastructure sectors. As a classified critical infrastructure entity, Fjernvarme Horsens is a member of this non-profit association owned and financed by Danish critical infrastructure companies. SektorCERT monitors internet traffic through sensor networks to detect cyber attacks and shares knowledge for prevention. This partnership provides cybersecurity protection for the company's operational systems.
• KamstrupcoreTechnology or IntegrationHeat meter supplier providing Multical 602 and 603 smart meters with remote reading capability. Kamstrup also provides intelligent meter monitoring to identify customers with inefficient heating patterns. The company performs meter optimization by replacing and upgrading meters to Link IQ system, with the cost covered by subscription fees.
• Danish Energy Agency (Energistyrelsen)minorOthersGovernment agency responsible for CO2 ranking of district heating companies. Fjernvarme Horsens received green ranking (traffic light system) indicating CO2 emissions lower than average individual air-to-water heat pump. Also provides SparEnergi advice platform for energy savings recommendations.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• AffaldVarme Aarhus: AffaldVarme Aarhus operates Aarhus's waste-to-energy and district heating system, including a large CHP plant that supplies heating to the city. Closely comparable business model: utility-scale waste incineration with heat distribution, Danish municipal context, and consumer/customer ownership structure.
• Aalborg Forsyning: Aalborg Forsyning provides district heating, electricity, water, and waste services in the Aalborg area. Operates Aalborg Varme with CHP and biomass-based production under Danish cost-recovery regulation, directly comparable in scale and operational profile to Fjernvarme Horsens.
• Trefor / Norlys Energi: Trefor (now part of Norlys) operates district heating and electricity distribution in Odense and Funen region. A Danish consumer-owned cooperative utility with similar cost-recovery framework, CHP/biomass production, and customer mix, making it a directly comparable peer.
• DIN Forsyning: DIN Forsyning is a consumer-owned utility in the Esbjerg/Sønderjylland area providing district heating, water, and waste services. Operates Danish district heating under cost-recovery framework with comparable production technology and customer base, directly comparable to Fjernvarme Horsens.
• HOFOR: HOFOR is Copenhagen's multi-utility providing district heating, water, and wastewater services to the capital region. It is the largest district heating operator in Denmark, operating CHP plants and large-scale transmission networks under a similar cost-recovery framework, making it the closest comparable to Fjernvarme Horsens.
• Verdo: Verdo is a multi-utility in Randers, Denmark providing district heating, electricity, and fiber services. Operates under Danish cost-recovery framework with similar CHP/biomass production mix and consumer base of residential and commercial customers - directly comparable to Fjernvarme Horsens.

Broad incumbents

• ENGIE: ENGIE is a global utility group with significant district heating networks across France, Germany, and other European markets. Comparable in CHP, biomass, and heat-pump technology deployment, but operates as a diversified investor-owned global utility rather than a local consumer-owned cooperative.
• E.ON Sverige: E.ON Sverige is a major Swedish energy group providing district heating, electricity, and gas across multiple Swedish cities. Overlaps with Fjernvarme Horsens in district heating production and customer type but operates at significantly larger scale with broader portfolio and investor-owned structure.

Regional players

• Stockholm Exergi: Stockholm Exergi is one of Europe's largest district heating operators, serving the Stockholm region with biomass, waste-to-energy, and CHP production. Comparable production technology and CHP/biomass strategy but operates in Sweden under a different regulatory framework and at significantly larger scale.
• Kraftringen: Kraftringen is a Swedish consumer-owned energy company providing district heating, electricity, and gas in southern Sweden (Lund, Malmö area). Comparable in operating model and technology mix (CHP, biomass, heat pumps) but operates in a different national regulatory and geographic context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fjernvarme-horsens

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Fjernvarme Horsens