Liechtensteinische Kraftwerke (LKW) has closed financial year 2021 with a profit of 8.4 million Swiss francs. The sharp rise in electricity prices observed at the end of the year was mitigated by in-house production in Liechtenstein and abroad. In this context, LKW primarily relied on renewables.

According to a press release issued by LKW, the company posted sales growth in the 2021 financial year of 13.7 million Swiss francs versus 2020 to stand at 97.3 million Swiss francs. At 8.4 million Swiss francs, annual profit was actually 1.3 million Swiss francs down on 2020. LKW explains in the press release that it was able to cushion sharply rising electricity prices towards the end of the year with proprietary production at home and abroad.

The energy and communications service provider is continuously working on increasing the share of electricity generated from renewable energies. To this end, LKW introduced the LiStrom alpin product designed for commercial and industrial customers in the year under review. Since the beginning of 2021, households and commercial customers have also been supplied with electricity from renewable sources as standard.

At the beginning of the reporting year, operations also recommenced at the refurbished and expanded Mühleholzquellen hydroelectric power plant. Moreover, domestic production of electricity on the basis of renewable sources was strengthened by the additional construction of photovoltaic plants.

LKW is also active abroad as part of the expansion of the production of electricity from renewable sources. The company explained in the press release that LKW’s participation in Repartner Productions AG in particular contributed to a reduction in procurement costs on the energy markets.

The company has also made successful progress in connection with its efforts to expand the fiber-optic network. At the end of the reporting year, a total of 83.4 percent of connections were based on fiber optic technology. At the end of 2020, the equivalent value here was just 71.1 percent. The expansion of the fiber optic network is scheduled for completion by the end of 2022.

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