In light of the last days' media coverage and speculations regarding the
Norwegian Consumer Council's (Forbrukerrådet) criticism towards the electricity
retail industry, and as the facts of the matter have become clearer, Fjordkraft
has decided to release the following statement to clarify the matter to
shareholders, the financial markets and to the media.

Firstly, Fjordkraft disagrees with the statements from the Norwegian Consumer
Council in this matter.

The Norwegian Consumer Council's criticism can be split into two key issues:

i)	That short-term special offers where the duration of the special price is not
explicitly stated are noncompliant with marketing law or the standard contract
for delivery of electricity established by Energy Norway (Energi Norge)

ii)	That price plans based on the NordPool spot price with an unspecified
addition of purchasing costs are noncompliant with the standard contract for
delivery of electricity established by Energy Norway

Fjordkraft is mentioned by the Norwegian Consumer Council as one of the
retailers where, according to their view on the matter, issue ii) is relevant.
Fjordkraft offers this kind of contract to its customers (the majority of
Fjordkraft's spot products include purchasing costs, covering balancing costs,
trading fees and credit cost). The customer is informed about this through the
terms and conditions in accordance with Fjordkraft's interpretation of the
current rules and regulation.  

The financial effect of the addition of this purchasing costs is minimal.
Fjordkraft's total revenue from the addition of purchasing costs to certain
contracts amounts to less than 2% of total revenue in the Consumer segment and
about 3% of net revenue in the Consumer segment. 


Fjordkraft takes the allegations from the Norwegian Consumer Council very
seriously and strive to comply with the current rules and regulations in the
market. To Fjordkraft's best knowledge, Fjordkraft's terms and conditions are in
line with rules and regulations as well as established market practice. Because
Fjordkraft takes these allegations very seriously, Fjordkraft has initiated a
legal review and evaluation of their terms and conditions from the law firm
Schjødt. Fjordkraft has also been working with Energy Norway to establish
industry standards for sale and marketing of electricity for a long period of
time and welcomes increased transparency and uniformity in the market. 


-To our best knowledge, we operate well within the current rules and regulations
in the market. However, increased transparency and a level playing field is
something we applaud and have been working on for a long time, says CEO Rolf
Barmen. 

-We maintain our financial outlook. The allegations from the Norwegian Consumer
Council and possible actions from the Consumer Authority (Forbrukertilsynet)
will have a minimal impact on the Group's profitability and further growth, says
Barmen. 


For queries, please contact: 

Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526

Rolf Barmen, CEO, +47 900 80 950

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