Ørsted received a final opinion from an advisory commission under the EU Arbitration Convention supporting its position that the UK should primarily tax its Walney Extension and Hornsea 1 offshore wind farms. The commission found that the projects have genuine legal and economic purposes and should generally be taxed where they are located and generate revenue, addressing the risk of the same income being taxed in Denmark and the UK. The dispute began in 2015 after Ørsted asked Danish and UK tax authorities to clarify how taxation rights should be divided. The authorities failed to agree, and the case was referred to the commission in 2023. Danish tax authorities claimed 6.6 billion Danish crowns ($1.03 billion) in taxes and interest in 2020. Ørsted said the opinion will lead to a small upward adjustment in its Danish tax position, including interest, but that the amount is covered by provisions for uncertain tax positions and should be largely offset over time by lower UK taxes. The company plans to discuss similar projects with the Danish Tax Agency and HM Revenue & Customs. Ørsted has 11 gigawatts of installed offshore wind capacity globally and 7.2 gigawatts under construction, and reported 2025 operating profit of DKK 25.1 billion excluding new partnerships and cancellation fees.