The Company

Fjordkraft at a Glance

Fjordkraft at a glance

National electricity supplier

Throughout the whole of Norway, over 1.4 million people have electricity from Fjordkraft – either at home or at work. Norway has many grid companies that operate local grids and electricity meters. We sell electricity to customers who live in or have business activities in 114 different grid areas operated by local grid companies.

Consumer market

The Group accounted for a total of 544 thousand electricity deliveries at the end of 2019 in the consumer segment. 20% of the electricity customers in the consumer market state that they use Fjordkraft. This is the highest market share measured for a power supplier in Norway.

Fjordkraft is a well-known brand. A total of 94% of the adult population has heard of Fjordkraft.

Business market

Fjordkraft is a leading supplier to the corporate market and has been chosen by more than 32,000 companies. Products range from straightforward power contracts to advanced power portfolio management. Customers range from energyintensive industrial manufacturers and large corporations with facilities all over the country to small local businesses. Digital tools for energy reporting and analysis help businesses achieve efficient energy use.

We also offer energy and environmental advice.

Electricity in Trøndelag

Fjordkraft owns 100% of the shares in the electricity supplier TrøndelagKraft AS, located in Trondheim.

30 alliance partners

The Alliance concept is Fjordkraft’s collaboration model for power producers and electricity suppliers in rural areas. Fjordkraft provides services related to power trading, invoicing, settlement and market support to 30 energy companies all over Norway. These are electricity suppliers, grid companies and power producers.

This provides us with good insight into the conditions and situation for a wide range of different players and allows us to present a comprehensive picture in our communication with industrial associations and government authorities.

Mobile

Fjordkraft aims to offer its customers power contracts and other benefits that provide them with better value for money. In April 2017, Fjordkraft became a provider of mobile telephony. Fjordkraft offers its customers low-cost mobile telephony using Telenor’s network. The number of mobile subscribers was 100,027 at the end of 2019, a growth of 52 per cent year on year.

Fjordkraft is the largest service provider without its own telecommunications network.

Norway’s largest customer service survey assesses which company has the best customer service in its industry each year. In January 2020 the results showed that Fjordkraft came first in the telecoms category and was also rated the best of all of the companies in all industries (banking, insurance, telecoms, travel, broadband etc.)

History

Fjordkraft was founded on 1 April 2001, with the ambition of becoming a leading company in the sale of electricity to the end-user market. Since the outset, the company has striven to increase national competition in the end-user market, introduce forward-looking, customer-friendly solutions, and ensure non-discriminatory market conditions for all the players in the industry. The company was founded as a result of a merger between the power-trading operations of BKK Kraftsalg AS and Skagerak Energi AS. The name Fjordkraft was adopted from 1 June 2001..

Shareholders

Fjordkraft Holding ASA was listed on the Oslo Stock Exchange’s main list on 21 March 2018. The liquidity in the stock increased through 2019 and the proportion of “free float” rose from 40 per cent to 70 per cent as the original owners, Skagerak Energi AS and BKK AS, reduced their holdings. At the end of the year, the company had around 4,600 shareholders.

Acquisitions 2018-2019

On 1 July 2019, a transaction was carried out in which Fjordkraft bought 100 per cent of the shares in the end-user company Vesterålskraft Strøm AS. The acquisition included 8,600 customers.
In February 2018, an agreement was signed to acquire the shares in TrønderEnergi Marked AS, an electricity retailer in the Trøndelag region with 62,0000 electricity deliveries.
A further transaction was concluded with the TrønderEnergi Group in August 2018, all of the
shares in Oppdal Everk Kraftomsetning AS. The activities included around 5,200 electricity deliveries.
In October 2018, the company completed a transaction with BKK AS to take over the customer
portfolio of Etne Elektrisitetslag. The customer portfolio amounted to around 1,600 electricity deliveries.

Joint ventures

Fjordkraft’s internal management and invoicing system “Fjordkraft Factory” has been developed for the sale of account settlement and invoicing services to other alliance partners.

In November 2019, Fjordkraft decided to invest in the technology software company Metzum AS through a joint venture with Rieber & Søn AS. The transaction was completed in 2020.

Fjordkraft has been investing in and building the software platform the “Fjordkraft Factory” since 2012. From 2020, the aim is to create a company that owns, delivers and develops forward-looking software to power trading and grid companies in Norway and Northern Europe. Alongside this company, an enterprise, Allrate AS, to sell rating and billing services to companies across the value chain will be started in early 2020.

Klimanjaro and www.klimahub.no

At the UN climate conference in Katowice in 2018, Fjordkraft’s “Klimanjaro” climate initiative was chosen as one of the winners of the UN’s “Momentum for Change” climate action award for 2018. Fjordkraft is the first Norwegian company to receive this award. “Klimanjaro” won the award in the “Climate Neutral Now” category. With “Klimanjaro” the company is using its purchasing power and requiring all of its suppliers to become climate-neutral if they wish to supply goods and services to Fjordkraft. The emission reductions Fjordkraft achieves through the company’s suppliers are 100 times greater than the company’s own emissions. Suppliers must produce climate accounts, take action and compensate for their residual emissions.

During 2019, Fjordkraft developed the “Klimahub” web portal ready to launch in January 2020. “Klimahub” will be a portal where users can check Norwegian companies’ climate footprints, create corporate climate accounts and invite partners to help create a climate-neutral value chain. The initial aim is to develop this into a portal with a wide reach among Norwegian companies. This is part of the company’s CSR work.