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&lt;br /&gt; 2008&lt;br /&gt; &Aring;RSRAPPORT&lt;br /&gt; ENERGI NIANET A/S&lt;br /&gt; DANMARK A/S SEAS-NVE A.m.b.A 15,1 %&lt;br /&gt; 26,1 %&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; DANSK&lt;br /&gt; DONG ENERGY A/S SEAS-NVE&lt;br /&gt; BREDB&Aring;ND A/S&lt;br /&gt; 10,9 % HOLDING A/S&lt;br /&gt; 31,4 %&lt;br /&gt; &lt;br /&gt; SELSKABSSTRUKTUR&lt;br /&gt; &lt;br /&gt; SEAS-NVE <a title="&Aring;rsrapport 2008 page 1" href="http://viewer.zmags.com/publication/ad759eaa?page=1">2008&Aring;RSRAPPORT</a> 2008&Aring;RSRAPPORT<a title="&Aring;rsrapport 2008 page 2" href="http://viewer.zmags.com/publication/ad759eaa?page=2"> ENERGI </a> ENERGI <a title="&Aring;rsrapport 2008 page 3" href="http://viewer.zmags.com/publication/ad759eaa?page=3">&Aring;RSRAPPORT 2008</a> &Aring;RSRAPPORT 2008<a title="&Aring;rsrapport 2008 page 4" href="http://viewer.zmags.com/publication/ad759eaa?page=4">2 /INDHOLD </a> 2 /INDHOLD <a title="&Aring;rsrapport 2008 page 5" href="http://viewer.zmags.com/publication/ad759eaa?page=5">/ 3&Aring;RSRAPPORT 2008 </a> / 3&Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 6" href="http://viewer.zmags.com/publication/ad759eaa?page=6">4 /FORORD </a> 4 /FORORD <a title="&Aring;rsrapport 2008 page 7" href="http://viewer.zmags.com/publication/ad759eaa?page=7">/ 5SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 5SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 8" href="http://viewer.zmags.com/publication/ad759eaa?page=8">6 /FORORD </a> 6 /FORORD <a title="&Aring;rsrapport 2008 page 9" href="http://viewer.zmags.com/publication/ad759eaa?page=9">/ 7SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 7SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 10" href="http://viewer.zmags.com/publication/ad759eaa?page=10">8 /&Aring;RSRAPPORT 2008 </a> 8 /&Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 11" href="http://viewer.zmags.com/publication/ad759eaa?page=11">/ 9SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 9SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 12" href="http://viewer.zmags.com/publication/ad759eaa?page=12">10 /MARKEDET </a> 10 /MARKEDET <a title="&Aring;rsrapport 2008 page 13" href="http://viewer.zmags.com/publication/ad759eaa?page=13">/ 11SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 11SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 14" href="http://viewer.zmags.com/publication/ad759eaa?page=14">12 /MARKEDET </a> 12 /MARKEDET <a title="&Aring;rsrapport 2008 page 15" href="http://viewer.zmags.com/publication/ad759eaa?page=15">/ 13SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 13SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 16" href="http://viewer.zmags.com/publication/ad759eaa?page=16">14 /MARKEDET </a> 14 /MARKEDET <a title="&Aring;rsrapport 2008 page 17" href="http://viewer.zmags.com/publication/ad759eaa?page=17">/ 15SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 15SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 18" href="http://viewer.zmags.com/publication/ad759eaa?page=18">16 /MARKEDET </a> 16 /MARKEDET <a title="&Aring;rsrapport 2008 page 19" href="http://viewer.zmags.com/publication/ad759eaa?page=19">/ 17SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 17SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 20" href="http://viewer.zmags.com/publication/ad759eaa?page=20">18 /MARKEDET </a> 18 /MARKEDET <a title="&Aring;rsrapport 2008 page 21" href="http://viewer.zmags.com/publication/ad759eaa?page=21">/ 19SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 19SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 22" href="http://viewer.zmags.com/publication/ad759eaa?page=22">20 /MARKEDET </a> 20 /MARKEDET <a title="&Aring;rsrapport 2008 page 23" href="http://viewer.zmags.com/publication/ad759eaa?page=23">/ 21SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 21SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 24" href="http://viewer.zmags.com/publication/ad759eaa?page=24">22 /MARKEDET </a> 22 /MARKEDET <a title="&Aring;rsrapport 2008 page 25" href="http://viewer.zmags.com/publication/ad759eaa?page=25">/ 23SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 23SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 26" href="http://viewer.zmags.com/publication/ad759eaa?page=26">24 /MARKEDET </a> 24 /MARKEDET <a title="&Aring;rsrapport 2008 page 27" href="http://viewer.zmags.com/publication/ad759eaa?page=27">/ 25SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 25SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 28" href="http://viewer.zmags.com/publication/ad759eaa?page=28">26 /LOREM IPSUM / ODSHERRE</a> 26 /LOREM IPSUM / ODSHERRE<a title="&Aring;rsrapport 2008 page 29" href="http://viewer.zmags.com/publication/ad759eaa?page=29">/ 27DEN ANSVARLIGE PIONERFra begyndels</a> / 27DEN ANSVARLIGE PIONERFra begyndels<a title="&Aring;rsrapport 2008 page 30" href="http://viewer.zmags.com/publication/ad759eaa?page=30">28 /STRATEGI </a> 28 /STRATEGI <a title="&Aring;rsrapport 2008 page 31" href="http://viewer.zmags.com/publication/ad759eaa?page=31">/ 29SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 29SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 32" href="http://viewer.zmags.com/publication/ad759eaa?page=32">30 /LOREM IPSUM / ODSHERRE</a> 30 /LOREM IPSUM / ODSHERRE<a title="&Aring;rsrapport 2008 page 33" href="http://viewer.zmags.com/publication/ad759eaa?page=33">/ 31SYDSTENEN</a> / 31SYDSTENEN<a title="&Aring;rsrapport 2008 page 34" href="http://viewer.zmags.com/publication/ad759eaa?page=34">32 /INTERESSENTER OG INNOVATION </a> 32 /INTERESSENTER OG INNOVATION <a title="&Aring;rsrapport 2008 page 35" href="http://viewer.zmags.com/publication/ad759eaa?page=35">/ 33SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 33SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 36" href="http://viewer.zmags.com/publication/ad759eaa?page=36">34 /INTERESSENTER OG INNOVATION </a> 34 /INTERESSENTER OG INNOVATION <a title="&Aring;rsrapport 2008 page 37" href="http://viewer.zmags.com/publication/ad759eaa?page=37">/ 35SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 35SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 38" href="http://viewer.zmags.com/publication/ad759eaa?page=38">36 /INTERESSENTER OG INNOVATION </a> 36 /INTERESSENTER OG INNOVATION <a title="&Aring;rsrapport 2008 page 39" href="http://viewer.zmags.com/publication/ad759eaa?page=39">/ 37SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 37SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 40" href="http://viewer.zmags.com/publication/ad759eaa?page=40">38 /INTERESSENTER OG INNOVATION </a> 38 /INTERESSENTER OG INNOVATION <a title="&Aring;rsrapport 2008 page 41" href="http://viewer.zmags.com/publication/ad759eaa?page=41">/ 39SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 39SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 42" href="http://viewer.zmags.com/publication/ad759eaa?page=42">40 /RESULTATER </a> 40 /RESULTATER <a title="&Aring;rsrapport 2008 page 43" href="http://viewer.zmags.com/publication/ad759eaa?page=43">/ 41SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 41SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 44" href="http://viewer.zmags.com/publication/ad759eaa?page=44">42 /RESULTATER </a> 42 /RESULTATER <a title="&Aring;rsrapport 2008 page 45" href="http://viewer.zmags.com/publication/ad759eaa?page=45">/ 43SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 43SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 46" href="http://viewer.zmags.com/publication/ad759eaa?page=46">44 /RESULTATER </a> 44 /RESULTATER <a title="&Aring;rsrapport 2008 page 47" href="http://viewer.zmags.com/publication/ad759eaa?page=47">/ 45SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 45SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 48" href="http://viewer.zmags.com/publication/ad759eaa?page=48">46 /RESULTATER </a> 46 /RESULTATER <a title="&Aring;rsrapport 2008 page 49" href="http://viewer.zmags.com/publication/ad759eaa?page=49">/ 47SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 47SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 50" href="http://viewer.zmags.com/publication/ad759eaa?page=50">48 /RESULTATER </a> 48 /RESULTATER <a title="&Aring;rsrapport 2008 page 51" href="http://viewer.zmags.com/publication/ad759eaa?page=51">/ 49SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 49SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 52" href="http://viewer.zmags.com/publication/ad759eaa?page=52">50 /RESULTATER </a> 50 /RESULTATER <a title="&Aring;rsrapport 2008 page 53" href="http://viewer.zmags.com/publication/ad759eaa?page=53">/ 51SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 51SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 54" href="http://viewer.zmags.com/publication/ad759eaa?page=54">52 /RESULTATER </a> 52 /RESULTATER <a title="&Aring;rsrapport 2008 page 55" href="http://viewer.zmags.com/publication/ad759eaa?page=55">/ 53SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 53SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 56" href="http://viewer.zmags.com/publication/ad759eaa?page=56">54 /RESULTATER </a> 54 /RESULTATER <a title="&Aring;rsrapport 2008 page 57" href="http://viewer.zmags.com/publication/ad759eaa?page=57">/ 55SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 55SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 58" href="http://viewer.zmags.com/publication/ad759eaa?page=58">56 /RESULTATER </a> 56 /RESULTATER <a title="&Aring;rsrapport 2008 page 59" href="http://viewer.zmags.com/publication/ad759eaa?page=59">/ 57SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 57SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 60" href="http://viewer.zmags.com/publication/ad759eaa?page=60">58 /RESULTATER </a> 58 /RESULTATER <a title="&Aring;rsrapport 2008 page 61" href="http://viewer.zmags.com/publication/ad759eaa?page=61">/ 59SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 59SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 62" href="http://viewer.zmags.com/publication/ad759eaa?page=62">60 /RESULTATER </a> 60 /RESULTATER <a title="&Aring;rsrapport 2008 page 63" href="http://viewer.zmags.com/publication/ad759eaa?page=63">/ 61SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 61SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 64" href="http://viewer.zmags.com/publication/ad759eaa?page=64">62 /RESULTATER </a> 62 /RESULTATER <a title="&Aring;rsrapport 2008 page 65" href="http://viewer.zmags.com/publication/ad759eaa?page=65">/ 63SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 63SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 66" href="http://viewer.zmags.com/publication/ad759eaa?page=66">64 /RESULTATER </a> 64 /RESULTATER <a title="&Aring;rsrapport 2008 page 67" href="http://viewer.zmags.com/publication/ad759eaa?page=67">/ 65SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 65SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 68" href="http://viewer.zmags.com/publication/ad759eaa?page=68">66 /RESULTATER </a> 66 /RESULTATER <a title="&Aring;rsrapport 2008 page 69" href="http://viewer.zmags.com/publication/ad759eaa?page=69">/ 67SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 67SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 70" href="http://viewer.zmags.com/publication/ad759eaa?page=70">68 /RESULTATER </a> 68 /RESULTATER <a title="&Aring;rsrapport 2008 page 71" href="http://viewer.zmags.com/publication/ad759eaa?page=71">/ 69SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 69SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 72" href="http://viewer.zmags.com/publication/ad759eaa?page=72">70 /RESULTATER </a> 70 /RESULTATER <a title="&Aring;rsrapport 2008 page 73" href="http://viewer.zmags.com/publication/ad759eaa?page=73">/ 71SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 71SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 74" href="http://viewer.zmags.com/publication/ad759eaa?page=74">72 /RESULTATER </a> 72 /RESULTATER <a title="&Aring;rsrapport 2008 page 75" href="http://viewer.zmags.com/publication/ad759eaa?page=75">/ 73SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 73SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 76" href="http://viewer.zmags.com/publication/ad759eaa?page=76">74 /RESULTATER </a> 74 /RESULTATER <a title="&Aring;rsrapport 2008 page 77" href="http://viewer.zmags.com/publication/ad759eaa?page=77">/ 75SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 75SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 78" href="http://viewer.zmags.com/publication/ad759eaa?page=78">76 /RESULTATER </a> 76 /RESULTATER <a title="&Aring;rsrapport 2008 page 79" href="http://viewer.zmags.com/publication/ad759eaa?page=79">/ 77SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 77SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 80" href="http://viewer.zmags.com/publication/ad759eaa?page=80">78 /RESULTATER </a> 78 /RESULTATER <a title="&Aring;rsrapport 2008 page 81" href="http://viewer.zmags.com/publication/ad759eaa?page=81">/ 79SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 </a> / 79SEAS-NVE KONCERNEN / &Aring;RSRAPPORT 2008 <a title="&Aring;rsrapport 2008 page 82" href="http://viewer.zmags.com/publication/ad759eaa?page=82">&Aring;RSRAPPORT 2008 / SEAS-NVE KONCERNEN</a> &Aring;RSRAPPORT 2008 / SEAS-NVE KONCERNEN<a title="&Aring;rsrapport 2008 page 83" href="http://viewer.zmags.com/publication/ad759eaa?page=83">KOLOFONRedaktion: SEAS-NVEGrafisk tilrettel&aelig;gg</a> KOLOFONRedaktion: SEAS-NVEGrafisk tilrettel&aelig;gg<a title="&Aring;rsrapport 2008 page 84" href="http://viewer.zmags.com/publication/ad759eaa?page=84">Danmarks st&oslash;rste kundeejede energivirksomhed</a> Danmarks st&oslash;rste kundeejede energivirksomhed