The commercial division of Ørsted, Bioenergy & Other, reported a 6.6 billion kroner profit in the third quarter of this year, a 54 percent increase.
Operating profits meanwhile rose to 1.2 billion kroner in Q3, according to the results.
Gas prices are six times the normal rate and electricity three time more expensive than normal, the company said.
“(The large profits) are due to extraordinarily good results from our power stations and high revenues from our gas businesses,” Ørsted writes in the results.
Although increasing gas and energy prices have given Ørsted strong results, the company, which has invested in wind and solar power, has not grown overall.
For the entire Ørsted company, operating profits in the third quarter dropped by just under 400 million kroner to 3.4 billion kroner.
That is because a relatively low amount of wind reduced the amount of energy produced by Ørsted’s wind farms.
Earlier this year, the Danish company published a plan to quadruple its position on sustainable energy by 2030.
That includes building wind and solar power farms to produce 50 gigawatts of power.
Contracts signed by the company so far can ensure 18 gigawatts of sustainable production, Ørsted said in its published results.