Fortum's takeover of Elemera likely signals the end of Fjordkraft brand
Finland's Fortum has secured control of Elemera and plans to integrate it, which industry sources say will probably lead to the Fjordkraft name disappearing.
Fortum, already Norway's largest electricity provider, completed its purchase of Elemera, the holding company behind Fjordkraft, after obtaining clearance from the competition regulator. In a stock exchange filing, Fortum stated that Elemera will be consolidated into the Fortum Group, with more information to follow. Industry commentary suggests that the Fjordkraft brand will likely be retired, with a timeline that could see the name disappear by the spring of 2028 as customers are moved to Fortum's brand over roughly a year and a half.
The two firms have similar market positions, and Fortum's standard electricity rates are presently a bit lower than those offered by Fjordkraft. Other Elemera subsidiaries, such as Gudbrandsdal Energi and TrøndelagKraft, may face a similar fate. Fortum's communications director reiterated that customers should not expect immediate alterations to their contracts or branding.
Why it matters
The consolidation could reshape Norway's electricity market and affect millions of residential customers.
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