Since the energy act22 came into effect on january 1

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: % of the country’s total average production, and make up about the same proportion of installed capacity. As far as the transmission grid is concerned, the government owns a large proportion of the centrale grid through Statnett SF, whereas private companies, counties and local authorities own the remainder. Local authorities and county councils own most of the regional and distribution grids. Since the Energy Act22 came into effect on January 1, 1991, many power utilities have converted from local authority ownership to limited companies, which now represent 74% of all companies in the Norwegian electric power sector. Limited companies must keep accounts in accordance with the Accounting Act, and a limited company also allows owners to restrict their personal financial liability. They are liable for their share of the paid-up capital, but not for any company debts. Companies owned by counties or local authorities, on the other hand, have unlimited liability for all their operations, including debts. Table...
View Full Document

Ask a homework question - tutors are online