Denmark — physical cross-border flows, 2026

Month by month

All borders together, with consumption for scale.

Month	Consumption, MWh	Physical exports			Physical imports			Average price, €/MWh	Difference €	Import ÷ consumption
Month	Consumption, MWh	MWh	€/MWh	€	MWh	€/MWh	€	Average price, €/MWh	Difference €	Import ÷ consumption
January	4,126,798	1,599,164	100.56	160,814,158	1,888,487	109.93	207,594,928	107.73	−46,780,770	45.8%
February	3,731,501	1,355,616	93.47	126,709,264	1,830,582	102.72	188,038,680	104.77	−61,329,416	49.1%
March	3,586,116	1,740,773	90.56	157,644,583	2,404,541	101.61	244,323,903	97.27	−86,679,319	67.1%
April	3,212,879	1,860,861	79.26	147,488,083	2,496,440	82.22	205,253,651	81.26	−57,765,567	77.7%
May	2,940,734	1,740,039	96.98	168,743,531	2,359,833	100.90	238,107,352	99.78	−69,363,821	80.2%
June	2,830,823	1,381,732	97.66	134,940,140	2,284,687	123.65	282,498,127	109.53	−147,557,987	80.7%
July	2,889,526	1,413,683	73.21	103,490,431	1,582,139	125.76	198,970,813	102.30	−95,480,382	54.8%
August	2,982,240	1,760,677	114.11	200,903,328	2,060,738	124.13	255,802,818	126.08	−54,899,490	69.1%
September35.3% of hours	1,058,962	458,685	118.43	54,322,516	493,795	132.52	65,438,641	138.71	−11,116,126	46.6%
Total	27,359,577	13,311,229	94.29	1,255,056,035	17,401,243	108.38	1,886,028,913	104.81	−630,972,878	63.6%

Consumption is measured separately, as the hourly average power summed over the month — not by adding up readings, since sources publish at different rates. The last column puts imports next to it for scale; it is not a dependency figure, because part of what enters passes straight through to another neighbour.

Where the difference comes from

630,972,878 € for 4,090,014 MWh that stayed in the country works out at 154.27 € per megawatt-hour, in a month that averaged 104.81.

Energy that stayed, at the month's average price 428,655,407 67.9%
What came in arrived above that average 62,285,217 9.9%
What went out left below it 140,032,255 22.2%

The first line is energy the country needed and got. The other two — 202,317,471 € together — come not from how much moved but from when: cheap hours to sell in, expensive hours to buy in. That is the price of a timing mismatch, not a loss.

Official validation

The measured physical flow, checked against ANRE's published commercial trade.

Month	Physical net, MWh	Commercial net, MWh	Difference, MWh	Status
January	—	—	—	AWAITING OFFICIAL ANRE DATA
February	—	—	—	AWAITING OFFICIAL ANRE DATA
March	—	—	—	AWAITING OFFICIAL ANRE DATA
April	—	—	—	AWAITING OFFICIAL ANRE DATA
May	—	—	—	AWAITING OFFICIAL ANRE DATA
June	—	—	—	AWAITING OFFICIAL ANRE DATA
July	—	—	—	AWAITING OFFICIAL ANRE DATA
August	—	—	—	AWAITING OFFICIAL ANRE DATA
September	—	—	—	AWAITING OFFICIAL ANRE DATA

Gross volumes differ by design: the official indicators include transits, and a transit is counted once entering and once leaving, while a physical border sees it only once. Net figures converge, because transits cancel out — which is why the comparison is made on the net.

The percentage relates the difference to the month's commercial net. In a month with a small net, the same difference in MWh yields a larger percentage — which is why the difference is always shown in MWh as well.

ANRE publishes these exchanges as a physical balance in GWh. It publishes no import or export value and no average price per direction, so no money comparison is possible.

Physical cross-border flows and commercial electricity trades measure different phenomena. ANRE data is shown as an independent official benchmark and should not be interpreted as an exact reconciliation.