Fjernvarme Fyn, a district heating company in Denmark, has announced significant price increases for its customers effective October 1st. Prices will rise by 21.4 percent, as stated in a company announcement.
The upcoming price hikes are attributed to a decline in earnings from electricity sales, which have previously allowed the company to keep heating prices low. In recent years, Fjernvarme Fyn benefited from favorable electricity sales, but now electricity prices have fallen. Additionally, costs associated with fuels, carbon dioxide (CO2) quotas, and taxes remain high. This financial pressure means that the company can no longer provide heating at prices below production costs.
For an average apartment of 75 square meters, the monthly expense will increase by 183 Danish kroner (approximately $27 USD) starting in October. On an annual basis, this translates to an increase from 10,255 kroner to 12,450 kroner (approximately $1,532 USD) including value-added tax (VAT).
Fjernvarme Fyn emphasizes that this price adjustment is essential to cover rising costs and ensure stable operations.