Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Power Solutions, Ltd.
  6. News
  7. Summary
    4450   JP3782930006

POWER SOLUTIONS, LTD.

(4450)
  Report
Delayed Japan Exchange  -  12:34 2022-09-29 am EDT
2530.00 JPY   +2.51%
09/28Factbox-U.S. companies brace for Hurricane Ian
RE
09/28German govt infighting grows over nuclear power plant extension
RE
09/28Factbox-Over 100,000 customers without power in Florida from Hurricane Ian
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Norway's power grid operator cuts its tariffs to zero to help consumers

08/19/2022 | 08:55am EDT

OSLO (Reuters) - Norway's state-owned power grid operator Statnett said on Friday it would extend its policy of making no charge for use of its grid until the end of 2023 to cushion customers from high electricity prices.

Statnett had said in February it would not charge consumption tariffs from April until the end of 2022 after record high electricity prices drove up its income from distributing power in Norway and to neighbouring countries.

That policy was now extended to the end of 2023, it said.

It also said it would set another tariff it usually charges its customers relating to losses in the grid to zero from Sept. 1 until the end of 2023.

The new tariff reductions would reduce electricity costs for consumers by 11 billion crowns ($1.12 billion), it said.

Statnett's move cuts to zero part of the power bill paid by residential and corporate customers. Statnett runs the main high-voltage national infrastructure but consumers and companies still pay local supplier grid fees and pay for the power itself.

Statnett said bottleneck income from managing power flows from areas with different prices rose to 3 billion crowns for July and earned 11.5 billion crowns in the year until earlier in August, compared with 5.3 billion crowns for the whole of 2021.

Norway is split into five different price zones, with the northernmost zone NO4 averaging prices of 12.89 euros per megawatt hour (MWh) this year to date, compared with 193.21 euros/MWh in the southernmost zone NO2.

($1 = 9.7869 Norwegian crowns)

(Reporting by Anna Ringstrom and Nora Buli; Editing by Edmund Blair)


© Reuters 2022
All news about POWER SOLUTIONS, LTD.
09/28Factbox-U.S. companies brace for Hurricane Ian
RE
09/28German govt infighting grows over nuclear power plant extension
RE
09/28Factbox-Over 100,000 customers without power in Florida from Hurricane Ian
RE
09/28ETF Preview: ETFs, Futures Mixed Pre-Bell After Trade, Mortgage Applications..
MT
09/28India extends free food programme ahead of state elections
RE
09/28Door slams on Fed 'put' as market pain takes back seat to inflation fight
RE
09/28APPEC-China's petchem production costs way below Europe's - exec
RE
09/28NCC Expands Electricity Supply in Southern Stockholm
CI
09/27APPEC-China's oil demand set to recover as COVID curbs ease
RE
09/27Adyen Expands Partnership with SHOPLINE to Supercharge Smart Commerce
CI
More news
Analyst Recommendations on POWER SOLUTIONS, LTD.
More recommendations
Financials
Sales 2021 3 801 M 26,3 M 26,3 M
Net income 2021 253 M 1,75 M 1,75 M
Net cash 2021 991 M 6,86 M 6,86 M
P/E ratio 2021 13,2x
Yield 2021 -
Capitalization 3 569 M 24,7 M 24,7 M
EV / Sales 2020
EV / Sales 2021 0,58x
Nbr of Employees 231
Free-Float 32,3%
Chart POWER SOLUTIONS, LTD.
Duration : Period :
Power Solutions, Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends POWER SOLUTIONS, LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 2 530,00
Average target price
Spread / Average Target -
Managers and Directors
Tadao Takahashi President & Representative Director
Katsuhiko Fujita Chairman
Shizuko Kawashima Director & Head-Business Administration
Hiroyuki Ozaki Independent Outside Director
Shigenobu Sato Director
Sector and Competitors
1st jan.Capi. (M$)
POWER SOLUTIONS, LTD.8.30%24
ACCENTURE PLC-36.82%165 683
TATA CONSULTANCY SERVICES LTD.-18.80%135 891
AUTOMATIC DATA PROCESSING, INC.-5.93%96 327
INFOSYS LIMITED-26.12%71 573
SNOWFLAKE INC.-48.68%55 611