We mind energy

In 2025, we strengthened our role as a trusted partner in volatile energy markets.

As the largest independent energy supplier in the Nordics, we support producers, consumers, and resellers with efficient market access, deep trading expertise, and resilient solutions. In times of uncertainty, we help turn complexity into clarity – for our customers and for society.

Get a sneak peek of the Execute Review and results below and download our Annual Report for the full version.

Summary

Executive Review of 2025

In 2025, Switch28 moved from strategy to execution. We strengthened our pan‑Nordic position, unified our markets under the Mind Energy identity, and delivered resilient results in a volatile energy market. With a powerful business model and decades of trading expertise, we support our customers in navigating increasingly complex energy markets.
In 2025, the Customer Business delivered profitable growth in a volatile market. Leveraging strong trading expertise, advanced digital tools, and cross‑market insights, we supported energy producers and consumers in optimising costs, managing risk, and navigating new market realities.
In 2025, Market Trading navigated a structurally volatile energy market defined by extreme price fluctuations and a growing demand for flexibility. Trading across European power and gas markets and acting as Balance Responsible Party in the Nordics, we played a vital role in maintaining system balance and market liquidity.
From Energi Danmark to Mind Energy. A major milestone for us in 2025 was becoming Mind Energy. This new brand and identity is a deliberate and carefully considered step in our company's transformation, designed to clearly communicate our market position and align our culture with our new strategic direction.

Download the 2025 Annual Report

Louise Hahn, CEO

"The 2025 financial results are robust and satisfactory. It confirms our ability to steer both our customers and ourselves through volatile times marked by significant market uncertainties.”

Solid results in a changing market

In 2025, Mind Energy delivered a solid and satisfactory financial result in a market characterised by lower interest rates, relatively stable energy prices, and the implementation of a new Nordic balancing model. Profit before tax amounted to 273 mDKK .

The result was supported by good performance across both business areas. Our Customer Business continued to help energy producers bring their energy to market and supported Nordic companies in sourcing energy efficiently, while Market Trading delivered stable results trading on our own capital and risk.

Despite challenging market conditions, we increased gross profit from 807 mDKK in 2024 to 823 mDKK in 2025. This reflects the resilience of our business model and our ability to navigate complex and volatile energy markets.

Throughout the year, we also consolidated our operations across Denmark, Norway, Sweden, and Finland under one shared identity: Mind Energy. Together with a continued focus on professionalisation and simplification of the business, this leaves us well positioned to support our customers and meet future market challenges.

Financial highlights for 2025
Image of Dorthe Rømer Frost, SVP Brand, People and Sustainability in Mind Energy
Dorthe Rømer Frost, SVP, Brand, People & Sustainability

"The key to our success is our brainpower; we are energy minds. And we mind. To elaborate, we have deep, specialised, and technology-backed market insights that enable us to handle high energy volumes and offer the broadest perspective in the market."

We mind our people and how we work together

At the core of Mind Energy is a shared culture built around our guiding principles: Curious, One team, Responsible, and Empowered – our CORE.

CORE is more than a set of values. It is an operational framework that guides how we collaborate, lead, and develop – every day. The principles are embedded across the organisation, from leadership training to performance evaluations, ensuring clarity, accountability, and consistent behaviour aligned with our strategy and identity.

We foster a culture where curiosity drives innovation, teamwork unlocks collective strength, responsibility keeps the long term in mind, and empowerment enables our people to take initiative and grow.

Our people are the minds behind Mind Energy. Their skills, collaboration, and commitment are essential to our ability to navigate complexity and contribute to efficient, resilient, and sustainable energy markets – now and in the future.

People highlights for 2025
Andreas Wenshøj Gaur - Head of Sustainability

"At Mind Energy, sustainability is about enabling an efficient and resilient energy market where supply and demand meet in real time. Through our role as market facilitator and balance responsible party, we help integrate more renewable energy, reduce volatility, and lower the carbon intensity of the grid – benefiting both customers and society."

Balancing sustainable energy for all

At Mind Energy, sustainability is about making the energy system work efficiently, reliably, and fairly - for customers and for society. We play an active role in enabling the sustainable energy transition by improving market efficiency, strengthening flexibility, and supporting the integration of renewable energy into the grid.

Even without owning energy‑producing assets or infrastructure, we contribute meaningfully across the energy value chain. Through our role as balance responsible party, market facilitator, and trusted partner to producers and large consumers, we help ensure that energy is directed to where it is needed, when it is needed - supporting lower volatility, better utilisation of resources, and reduced carbon intensity.

Sustainability is embedded in how we operate every day and in the solutions we deliver to the market. To learn more about our approach and priorities, explore the interview with our Head of Sustainability in the Annual Report.

Sustainability highlights for 2025

Download the 2025 Annual Report

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