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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.
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- Summer '14