Skandia Greenpower AS (Skandia Greenpower) has decided to fast-track its planned transformation from a traditional electricity retailer to a purebred and more scalable technology company with a fully digital business model. The company unveils its new digital brand: Elkompis, which targets 450.000 Nordic customers by end-2026. Until now, Skandia Greenpower has operated a hybrid business model that consists of a traditional Norwegian electricity retail brand (SkandiaEnergi) and a disruptive and fully digital solution - Elkompis - which goes commercial this week.

Elkompis is a smart power-app for ordinary homes and is targeting the Nordic consumer market. The digital platform will be company's operational future. Electricity prices drives transformation: High electricity prices have impacted the traditional electricity retail sector.

More price conscious consumers have stressed customer profitability in general, driven by reduced customer loyalty and increased customer acquisition costs, with the associated lower profitability and contribution margins. Going forward, SkandiaEnergi will at some point in time offer its existing retail customer base the opportunity to transfer onto the digital Elkompis platform. Needless to say; all customers, independent of brand, will be serviced as required.

However, all future growth will be focused on the Elkompis platform. Low-cost model: The company's Elkompis offering is based on a fully digitalized platform that enables lower operating costs, lower prices to customers, improved operational flexibility and with significantly higher scalability potential. The existing content of the brand's services may be viewed on Moving from a hybrid to a singular organization model is also expected to generate cost savings for the company as the team can focus on building and growing one brand through a singular sales approach.

A digital business model can also enable significantly lower customer acquisition costs than what is the case for the traditional electricity retail sector. Under the new strategy, the company targets 450.000 customers by the end of 2026. All customers will be on the same technology platform (and none on the legacy retail platforms), which represents a major operational advantage and scalability opportunity for the company through value-adding services.

Fast-tracking this transformation will strengthen company's long-term growth potential and future funding needs.