Stadtwerke Lübeck

Stadtwerke Lübeck is not just a local energy brand that added internet products to a website. Its public record points to a municipal digital-infrastructure operator whose advantage is physical: streets, utility know-how, local trust, existing customer contact, and a fibre network that can be monetised directly through household and business tariffs or indirectly through wholesale access. The investment case turns on a narrow question: whether the cost of opening Lübeck's streets can be recovered through take-up, enterprise demand, open-access utilisation and the credibility that comes from a utility already embedded in the city.