Agreement on principles of a distribution grid merger in
Sør-Trøndelag
(Thomson Reuters ONE) - (Trondheim, 16 September 2009) Trondheim Energi and TrønderEnergihave today agreed on principles for a power distribution grid mergerin the county of Sør-Trøndelag. The companies will start commercialnegotiations with the intension of merging the grid operatorsTrondheim Energi Nett and TrønderEnergi Nett.The merger will be implemented by TrønderEnergi increasing its staketo 51 per cent of the merged company from the expected merger date 1January 2010, while also committing to purchase the remaining 49 percent of the company from 1 January 2013. The value of the mergedcompanies will be determined through negotiations.The merger will lead to grid tariffs in the two grid areas eveningout. The parties agree that the purpose of the merger is to make thecompany one of the most effective grid operators in Norway. In thelonger term, this might give the customers yet lower grid tariffs andthe owners higher return on their capital.Through this merger, Trondheim Energi and TrønderEnergi are layingthe foundation for a restructuring of the distribution grid activityin Sør-Trøndelag, heading for a more resource-efficient structurethat will benefit grid customers as well as the companies and theirowners."This solution highlights the role of Statkraft as an industrialdeveloper, where we work with regional industry players to find goodsolutions. As the owner of Trondheim Energi we consider the mergedcompany a natural consequence of our ambition to help create a betterand more efficient distribution grid activity in Norway," says JonBrandsar, Executive Vice President of Statkraft and board chair ofTrondheim Energi."TrønderEnergi is positive to this solution, because the currentowners of the distribution grids are cooperating to lay thefoundations of a strong and efficient grid operator which in duecourse will be owned locally," says board chair Per Kristian Skjærvikof TrønderEnergi.The parties will now negotiate a merger agreement and otheragreements. Their objective is to ensure that the company is set upand operated in line with the intentions, as well as safeguarding theemployees' interests and rights in the merger.The merger is intended to come into effect from 1 January 2010.Statkraft is Europe's largest renewable energy company. The Groupdevelops and generates hydropower, wind power, gas power and districtheating, and is a major player on the European power exchanges.Statkraft also develops marine energy, osmotic power solar power, andother innovative energy solutions. In 2008 Statkraft posted grossoperating revenues of EUR 3.1 billion. The group employs 3,200 staffin more than 20 countries.For more information, please contact:Jon Brandsar, board chair Trondheim Energi: +47 24 06 78 92 / +47 90518 576Per Kristian Skjærvik, board chair TrønderEnergi: +47 907 27 533This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 16.09.2009 - 12:00 Uhr
Sprache: Deutsch
News-ID 5865
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