17 votes

Norway has a chance to transform climate finance – the country's windfall from the energy crisis should be used to underwrite investments in developing countries

Posted by mycketforvirrad
Tags: climate change, norway, emissions, politics, policy.climate, funding, profits.windfall, energy crisis, funds.sovereign wealth, opinion, author.michael grubb, source.ft, short read, paywall
https://www.ft.com/content/c4bf95e2-6868-448d-bfca-5871dd2fb492

Link information

This data is scraped automatically and may be incorrect.

Title
Norway has a chance to transform climate finance
Word count
290 words

13 comments

  1. [11]
    DrEvergreen
    Link
    Unfortunately, that money comes from the pockets of us living here. Despite being a major exporter of energy, we ourselves pay 2 bills for our electricity. We pay both the actual manufacturers,...

    Unfortunately, that money comes from the pockets of us living here. Despite being a major exporter of energy, we ourselves pay 2 bills for our electricity. We pay both the actual manufacturers, and a "delivery" company that does nothing and has no facilities. (Politicians why did you make that change?!)

    The prices have soared with up to almost 1000% increases at its most expensive.

    4 votes
    1. [10]
      unkz
      Link Parent
      What’s the deal with this delivery company? That sounds pretty unusual.

      What’s the deal with this delivery company? That sounds pretty unusual.

      2 votes
      1. DrEvergreen
        Link Parent
        They don't actually deliver anything and I have no idea why they named it "strøm-leverandør". All they do is use a computer to press a button that says they are responsible for your power intake....

        They don't actually deliver anything and I have no idea why they named it "strøm-leverandør".

        All they do is use a computer to press a button that says they are responsible for your power intake. That's it. That's all they do, yet we pay money to them every month for the electricity used, just like we do to the actual manufacturers. So 2 bills in total.

        We used to only pay 1 electricity bill to the manufacturing, local company. The manufacturers that have the actual facilities that produce the electricity, that have lots of employees, that are responsible for the power lines in their local area etc.

        I tried my hand at being a seller at one of those places as a part of trying to accommodate health issues and working once. I lasted all of 3 days. It is stock exchange by another name. They buy the promise of future production of electricity and "sell" it to customers plus an overhead. That is done through some automated programs, and then phone sellers that often work on commission, so no extra expenses if they don't get new customers to sign up.

        5 votes
      2. [8]
        vuzzar
        Link Parent
        There are two bills for electricity in Norway: One is for the electricity itself, paid to whoever the subscriber chooses to buy electricity from. There are many vendors to choose from, and many of...

        There are two bills for electricity in Norway:

        • One is for the electricity itself, paid to whoever the subscriber chooses to buy electricity from. There are many vendors to choose from, and many of them have several tiers of subscriptions to choose from based on what suits the subscriber. Some plans have a set price throughout the year (very rare now with the power crisis going on for almost 2 years - huge fluctuations in price), while most plans nowadays follow market price + whatever they charge on top of the price. Some companies also offer a CO2 offset addon, where you pay a premium on top of your power price to plant trees or whatever the company chooses to support.

        • A second one is for the power delivery company - or the company that transfers the electricity from the generator to the consumer. They maintain their part of the power grid.
          This is not optional, and since they have monopoly in their given region you cannot choose. On the upside they have heavy regulations enforced upon them, and they have a government mandated cap on how much they can charge the consumer.

        3 votes
        1. [6]
          vuzzar
          Link Parent
          Since I can't edit my post? I'll post a correction here: The electricity is bought from a electricity delivery company (literal translation), while the power grid is maintained by a network...

          Since I can't edit my post? I'll post a correction here:

          The electricity is bought from a electricity delivery company (literal translation), while the power grid is maintained by a network delivery company (again, literal translation).

          Something something the government (especially blue-blue, but also the blueish-red we got now) really wants to fuck consumers by liberalizing the whole thing and integrating us into the European market. It's been going strong for 30 years now and probably will get even worse over time.

          2 votes
          1. [5]
            mycketforvirrad
            Link Parent
            There are four buttons below every comment you create. The first is an edit button.

            Since I can't edit my post?

            There are four buttons below every comment you create. The first is an edit button.

            1 vote
            1. [4]
              DefinitelyNotAFae
              Link Parent
              I wonder if they're using Three Cheers

              I wonder if they're using Three Cheers

              2 votes
              1. [3]
                mycketforvirrad
                Link Parent
                Hmm. Good point. I hadn't thought of that. Do we know how feature complete Three Cheers is?

                Hmm. Good point. I hadn't thought of that. Do we know how feature complete Three Cheers is?

                1. [2]
                  DefinitelyNotAFae
                  Link Parent
                  I don't think it has the edit function or at least I've not found it

                  I don't think it has the edit function or at least I've not found it

                  1 vote
                  1. vuzzar
                    Link Parent
                    Yeah I'm using Three cheers exclusively, so that's probably why. Thanks for the heads up!

                    Yeah I'm using Three cheers exclusively, so that's probably why. Thanks for the heads up!

                    1 vote
        2. DrEvergreen
          Link Parent
          Except I worked for a company that "provides" this electricity and they don't do anything other than speculate on the electricity market and push a button on their pc to assign your electricity...

          Except I worked for a company that "provides" this electricity and they don't do anything other than speculate on the electricity market and push a button on their pc to assign your electricity meter to their service for billing. And that is only done once.

          That is all they do. Very often, the purchasing of future production is even semi or fully automated as well.

          1 vote
  2. snowgoon
    Link
    I seriously doubt that ☹️

    It is also likely to be the year with the highest greenhouse gas emissions of all time.

    I seriously doubt that ☹️

    2 votes