Norway to boost subsidy with a view to reining in consumers' electricity bill

The Norwegian government is allotting NOK 6.6bn (EUR 660m) to subsidize consumers' electricity bill, with 80 percent of the high end of the price to be covered by the state in the coming months. Solving the problem requires wind turbines, says finance minister.

Photo: Jan Henriksen/Statkraft

Norwegian households can look forward to a helping hand with their electricity bills. Less than three weeks after a political majority passed a bill to compensate 55 percent of the electricity price above NOK 0.70 (EUR 0.07) per kWh, the government aims to increase the compensation degree to 80 precent. The preliminary plan is for the new scheme to apply through to the end of March.

"In a dark and cold country like Norway, electricity is a common good. The Norwegian state and municipalities are earning more money than usual. We have to redistribute the proceeds to the people," says Norway's Minister of Finance Trygve Slagsvold Vedum (SP) to Norwegian newspaper VG.

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