The board of Eviny has allocated NOK 1.3 billion in dividends to the owners of the company. Between these are the municipalities of Sunnfjord, Fjaler, Hyllestad, Høyanger, Gulen and Solund.
– Our surplus mainly goes back to our owner municipalities, where it benefits the community, says Ragnhild Janbu Fresvik, CEO of Eviny in a press release on Wednesday.
Some of the owners get this:
| Municipality (part of ownership in parentheses) | Shares | Dividend |
| Sunnfjord municipality (2.27%) | 3358 shares | 29,718,300 |
| Fjaler municipality (0.61%) | 895 shares | 7,920,750 |
| Hyllestad municipality (0.38%) | 565 shares | 5,000,250 |
| Gulen municipality (0.27%) | 401 shares | 3,548,850 |
| Solund municipality (0.24%) | 358 shares | 3,168,300 |
| Høyanger municipality (0.12%) | 172 shares | 1,522,200 |
Sunnfjord municipality will receive almost NOK 30 million in dividends. To Eviny, Sunnfjord mayor Jenny Følling says that it is an important contribution to the municipal economy.
– For us as owners, it is important that Eviny invests to solve society’s need for more renewable energy and better network capacity, while at the same time maintaining a high level of dividend that we can use to develop our local communities, says Følling in the press release.
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According to Eviny, the main reason for the large growth in the result from 2022 to 2023 is reduced as a result of lower power prices in 2023, in addition to increased value of financial contracts.
On the power exchange, both physical and so-called financial contracts are traded. The latter are contracts to deliver the electricity to be delivered the following day, explains Teknisk Ukeblad.
The financial contracts function as hedging contracts and have nothing to do with the physical delivery of electricity. This means that power traders act based on what they think the electricity price will be next winter and summer.
The underlying result for Eviny, which is adjusted for changes in the value of hedging contracts and significant one-off effects, was NOK 2.0 billion for 2023. That is NOK 0.9 billion lower than in 2022. The main reason is a drop in power prices.
Eviny produced 6.9 TWh of hydropower in 2023, which is 0.8 TWh less than in 2022. Actual production in 2023 was enough to cover the annual electricity consumption of around 430,000 households.
Tags: Business Eviny Sunnfjord municipality receives million Eviny
