Norwegian authorities instruct electricity suppliers to terminate fixed price agreements

Electricity - power gridPhoto: Fré Sonneveld / Unsplash
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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

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