Troms Kraft is a

power company An electric utility is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major pr ...

that operates twelve

hydroelectric power plants Hydroelectricity, or hydroelectric power, is electricity generated from hydropower (water power). Hydropower supplies one sixth of the world's electricity, almost 4500 TWh in 2020, which is more than all other renewable sources combined and ...

and the power grid in fifteen municipalities in

Troms Troms (; se, Romsa; fkv, Tromssa; fi, Tromssa) is a former county in northern Norway. On 1 January 2020 it was merged with the neighboring Finnmark county to create the new Troms og Finnmark county. This merger is expected to be reversed by t ...

Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...

. The retail division has 100,000 customers and traded 5

TWh TWH or twh could refer to: * Tai Dón language, a language of Vietnam, Laos, and China * Tai Wo Hau station, Hong Kong; MTR station code * Tennessee Walking Horse, a breed of horse * Toronto Western Hospital, a hospital in Toronto, Canada * Tun ...

of electricity in 2006, in addition to 40 GWh of

district heating District heating (also known as heat networks or teleheating) is a system for distributing heat generated in a centralized location through a system of insulated pipes for residential and commercial heating requirements such as space heating a ...

. Upon demerger on 1 January 2009, parts of Troms Kraft Marked AS were merged with Ishavskraft AS; Troms Kraft AS owns 50% of Ishavskraft AS. The company operates a fiberoptic

broadband In telecommunications, broadband is wide bandwidth data transmission which transports multiple signals at a wide range of frequencies and Internet traffic types, that enables messages to be sent simultaneously, used in fast internet connections. ...

service in

Tromsø Tromsø (, , ; se, Romsa ; fkv, Tromssa; sv, Tromsö) is a List of municipalities of Norway, municipality in Troms og Finnmark county, Norway. The administrative centre of the municipality is the Tromsø (city), city of Tromsø. Tromsø lies ...

. The company is also planning to construct Fakken windfarm. Semming Semmingsen has held the role of CEO since June 2012.

Subsidiaries

The subsidiaries of the company, includes Kraft & Kultur AB.

Court case

On 22 November 2011, Troms Kraft announced that discrepancies had been discovered in the accounts of the subsidiary Kraft & Kultur in Sweden of between 1.2 and 1.8 billion

Swedish kronor The krona (; plural: ''kronor''; sign: kr; code: SEK) is the official currency of the Kingdom of Sweden. Both the ISO code "SEK" and currency sign "kr" are in common use; the former precedes or follows the value, the latter usually follows it b ...

. The case is being investigated by the

Swedish Economic Crime Authority The Swedish Economic Crime Authority ( sv, Ekobrottsmyndigheten, abbreviated EBM or SECA) is a Swedish government agency organized under the Ministry of Justice, with the mandate to investigate and prosecute financial crimes, like dishonesty to ...

(

Økokrim The National Authority for Investigation and Prosecution of Economic and Environmental Crime ( no, Økokrim) is Norway's central unit for fighting economic and environmental crimes. The unit, created in 1989, has its main office in Oslo. Økokr ...

) and the former leader of Kraft & Kultur was remanded in custody. In May 2012, an auditor's report concluded that the company's revenues had been inflated by approx.

NOK Nok is a village in Jaba Local Government Area of Kaduna State, Nigeria. The village is an archeological site. Archaeology The discovery of terracotta figurines at this location caused its name to be used for the Nok culture, of which these ...

1.5 billion by means of accounting manipulation. In September 2013, an investigation report was presented which had taken two years to prepare, which concluded that the loss could have been avoided.

References

Electric power companies of Norway Companies owned by municipalities of Norway County-owned companies of Norway Companies based in Tromsø Year of establishment missing Internet service providers of Norway Troms County Municipality {{energy-company-stub