Varanger Kraft

Varanger Kraft AS

Type	Municipal owned
Industry	Power
Founded	1938
Headquarters	Vadsø, Norway
Area served	Eastern Finnmark
Key people	Åge Andresen (CEO) Terje Kofoed (Chairman)
Revenue	NOK 314 million (2006)
Operating income	NOK 109 million (2006)
Net income	NOK 101 million (2006)
Number of employees	107 (2007)
Website	www.varangerkraft.no

Varanger Kraft is a municipal owned power company that operates four hydroelectric power stations producing 420 GWh per year through the subsidiary Pasvik Kraft, operates the power grid in the seven owner municipalities in Eastern Finnmark with 3,200 km lines and 16,000 customers, as well as retails power through Barents Energi. Head offices are located in Vadsø.

The company is owned by the minicipalities of Sør-Varanger (31.25%), Vadsø (21.88%), Deatnu - Tana (12.50%), Vardø (12.5%), Båtsfjord (9.38%), Berlevåg (6.25%) and Nesseby (6.25%). It operates the power grid in the same municipalities. The four power stations are Gandvik, Melkefoss, Skogfoss and Kongsfjord.

History

The company dates back to 1938. It was made a limited company in 1994, and in 2000 it bought the defunct mining company Sydvaranger, that it later sold to Tschudi Group. In 2003 the company was transformed to a corporate model.