DENMARK: HURRICANE COST UP TO DKR 0.5BN

Article Abstract:

Danish electricity companies will be affected by costs totaling DKr 0.25-0.5bn (SD 0.03-0.07bn) owing to the hurricane past weekend, according to estimates by the sector. As these additional costs are funded by the companies' reserves, consumers will not be affected at a first stage. The Minister of Energy and the Environment, Svend Auken, wishes to use these reserves for improving the companies' finances before the deregulation of the market. This means the companies would have been more negatively financially affected if the market had been deregulated before the hurricane, and they now try to act on the hurricane effects.

Market information - general, Electric Power Trans & Distr, Electric Power Transmission, Control, and Distribution, Electric power supply

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DENMARK: ELECTRICITY PRICES TO BE RAISED

Article Abstract:

Electricity prices in Denmark will be raised by up to DKr 0.01 per kWh as a consequence of the hurricane a few weeks ago. The electricity companies have been given the Government's approval to cover costs for the hurricane. Each company has to inform Energitilsynet, the Danish energy authority, about the costs before a price increase is allowed. The company NESA estimates the costs to total DKr 20-30mn (USD 2.7-4.1mn), which corresponds to a DKr 0.005 rise in prices. For SEAS' customers the price increase is likely to be DKr 0.01 per kWh, the paper writes.

Consumer prices, Use of energy, SEAS A/S

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DENMARK: STATKRAFT AND BKK KRAFT TO INVEST

Article Abstract:

The Norwegian companies Statkraft and BKK Kraftsalg will become shareholders in ScanEnergi A/S, the Danish electricity trading company based in mid- western Jutland, in connection with a new share issue totalling DKr 50mn (USD 7mn). The Norwegian companies will contribute essential competence to ScanEnergi, says Niels Nedergaard, chairman of the Danish company. ScanEnergi aims at improving competitiveness before the Danish electricity market is deregulated in April 2000.

Financial management, Statkraft, ScanEnergi A/S

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