Norwegian authorities instruct electricity suppliers to terminate fixed price agreements
The Norwegian Water Resources and Energy Directorate instructed ten electricity suppliers to terminate agreements that make consumers pay a fixed monthly amount for electricity and grid rent.
Five suppliers have previously terminated contracts following a decision from the Energy Regulatory Authority in NVE (RME).
The purpose of the decision is to ensure a connection between the invoice requirement and consumers’ actual and current electricity consumption.
“These agreements are complex and unverifiable for the consumer. Some of the agreements function in practice as a consumer loan with a high interest cost in addition to electricity costs,” Watercourse and Energy Director Kjetil Lund at NVE noted a press release.
© NTB Scanpix / #Norway Today
