Mergers could save rate payers major sums

A wave of mergers among the Norway's 100 power grid operators could give rate payers total annual savings worth NOK 2.6 billion (EUR 270 million), a new estimate shows. But companies are hesitant, reports Norwegian media Dagens Næringsliv, which points to high executive compensation.

Photo: Ritzau Scanpix/Henning Bagger

Norwegian Minister of Petroleum and Energy Kjell-Børge Freiberg and Director General of the Norwegian Competition Authority Lars Sørgard think that mergers among many of the country's power grid operators, which count more than 100, could benefit both the companies and the county's rate payers.

According to an estimate from the Norwegian Water Resources and Energy Directorate (NVE), rate payers could save around NOK 2.6 billion annually if the number of grid operators were halved, writes Norwegian business daily Dagens Næringsliv, which insinuates that such a development is being halted by recalcitrant executives.

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