Energy Norway says heavy taxation deters investors from hydroelectric
The effective taxation of large-scale hydropower in Norway has reached 42.9 percent, prompting Energy Norway to warn that investors flee to wind energy and, not least, neighboring Sweden.
The oil industry in Norway is currently being taxed at a negative 24.9 percent due to Covid-19 aid packages, while hydroelectric power in Sweden is taxed by 11.9 percent, Norwegian industry at large by 17.9 percent, wind energy by 26.2 percent and large-scale hydropower plants by a whopping 42.9 percent, according to an analysis by Thema Consulting.
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