Nordic Green Energy

What Nordic Green Energy does

Nordic Green Energy (legally Switch Nordic Green AB, org.nr 556567-4347) is an asset-light electricity retail company headquartered in Stockholm, Sweden, operating across Sweden and Finland. Founded in Stockholm in 2000 by Norwegian utility Troms Kraft and expanded to Vaasa, Finland in 2008, the company was the first electricity trading company in Sweden to deliver 100% renewable electricity and has now done so for 25+ years. It operates as a wholly-owned subsidiary of Elmera Group ASA (formerly Fjordkraft Holding ASA), a Norwegian electricity trading conglomerate listed on the Oslo Stock Exchange since March 21, 2018, whose consolidated revenue reached 18.9 billion NOK in 2023.

The core product is variable monthly electricity supply (Rörligt Månadspris) priced on the Nord Pool exchange with no fixed-price contracts offered, differentiated by Swedish Energy Agency origin guarantees and optional environmental certifications (EKOenergy internationally, Bra Miljöval domestically). The technology stack comprises a customer web portal (Mina Sidor) and a free mobile app for iOS and Android that delivers consumption tracking plus smart-device steering for electric vehicles and heat pumps; surplus electricity buyback for micro-producers is settled at approximately 116.13 öre/kWh including spot price, electricity certificates, and origin guarantees. The company does not own generation assets, sourcing electricity from local producers and the Nord Pool exchange for resale.

Revenue is generated from residential, business, association, and public-sector electricity sales primarily on variable monthly contracts, supplemented by the EKOenergy and Bra Miljöval add-ons (~2 öre/kWh premium), solar panel facilitation via partners (Otovo for residential, unnamed commercial suppliers), and surplus electricity purchases. Customer acquisition runs through direct website and phone sales, vetted third-party sales companies (säljbolag), B2B2C employee-benefit partnerships (e.g., Vestas), and a dedicated business advisory team — supported by listing on the official Energimarknadsinspektionen comparison tool (Elpriskollen.se), the trustpilot/Reco review platforms, and the Schysst Elhandel quality mark.

Name

Nordic Green Energy

Legal name

Switch Nordic Green AB

Website

https://nordicgreen.se

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Nordic Green Energy (legally Switch Nordic Green AB) is a Swedish electricity retail company supplying 100% renewable electricity to residential, business, association, and public-sector customers across Sweden and Finland, operated as a subsidiary of Elmera Group ASA. It sells variable monthly-priced contracts backed by EKOenergy/Bra Miljöval certifications, complemented by a mobile app, web portal, and partnered solar-panel services.

Ownership category

akta.pro rank

Product category

Retail Electricity Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro primary industry

Green Power Retailing & Bundled Supply (Energy + Certificates) (EUAGAFAE)

akta.pro secondary industries

C&I Renewable Supply & Green Tariffs (Bundled RE, Sleeves, Utility Green Tariffs) (EUAGACAE), Green Tariff & Renewable Add-On Brokerage (RECs/GoOs Bundled Offers) (EUAGAEAJ)

Keywords

• Renewable electricity supply
• Electricity retail services
• Residential electricity contracts
• Business electricity supply
• Solar energy solutions

Headquarters

HQ city

Vaasa

HQ country

Finland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Electricity Sales (Residential): Nordic Green Energy sells 100% renewable electricity to residential customers on variable monthly price contracts. Revenue is generated through the electricity consumption (kWh) multiplied by the contract price, plus a monthly fee. Prices vary by electricity area (SE1–SE4) and include spot price components, fixed markups, energy tax, and VAT. Nordic Green Energy does not offer fixed-price contracts.
2. Electricity Sales (Business & Public Sector): Nordic Green Energy provides customized electricity contracts to businesses and public sector entities, including variable price contracts and price-hedging agreements (Prissäkringsavtal) with binding periods of 1–5 years. Business contracts are offered through a dedicated advisory team and quote-based pricing.
3. Environmental Label Add-ons (Bra Miljöval & EKOenergy): Customers can add environmental certifications to their electricity contracts. Bra Miljöval adds approximately 2 öre/kWh (excl. VAT) to support Swedish environmental projects. EKOenergy is an international eco-label recommended by Green Building Councils and other standards, adding a premium to the electricity price.
4. Solar Panel Sales and Installation (Partnership): Nordic Green Energy facilitates solar panel installation for customers through partnerships with market-leading suppliers. Revenue comes from electricity sales agreements to customers who install solar panels. The company buys back surplus solar electricity at spot prices plus certificates and tax deductions, with customers receiving detailed production/consumption invoices.
5. Surplus Solar Electricity Purchase: Nordic Green Energy purchases surplus electricity from customers with solar panel installations (micro-producers) at spot price plus certificates and origin guarantees. Total compensation is approximately 116.13 öre/kWh (including spot price, certificates, origin guarantee, and tax reduction).

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Nordic Green Energy is a Swedish electricity retail company (elhandelsbolag) that purchases electricity from local producers and the Nordic power exchange Nord Pool, and resells 100% renewable electricity to residential, business, and public sector customers across Sweden and Finland. The company offers variable monthly price contracts, fixed-price contracts for businesses, environmental certification add-ons (EKOenergy, Bra Miljöval), and facilitates solar panel installations and surplus electricity buyback through partner networks. Customers are supported via a free mobile app (iOS/Android), a customer web portal (Mina Sidor), and Swedish-language phone-based customer service.

Product overview

Nordic Green Energy is an electricity retail company offering a portfolio of electricity supply products and renewable energy services. The core offering consists of variable monthly pricing electricity contracts (Rörligt Månadspris) for residential and business customers, with optional fixed pricing arrangements. The company differentiates through renewable energy certification add-ons (EKOenergy, Bra Miljöval) that provide international and Swedish environmental labeling respectively. Solar panel services are offered through partnerships, enabling both residential and business customers to install solar panels and sell surplus electricity back to the grid. The company also provides a customer mobile application (iOS/Android) for account management, consumption tracking, and smart device control, alongside a customer web portal (Mina Sidor) for online account access. Nordic Green Energy operates as part of Elmera Group, with operations in Sweden and Finland since 2000.

Differentiator

Problem solved

Functional benefit

Products and services

• Rörligt Månadspris (Variable Monthly Price)

Quantifiable outcome

• 0 g CO2 emissions from sold electricity (2025 energy mix)
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• VestascoreGTM or Marketing PartnerNordic Green Energy offers preferential electricity contracts to Vestas employees through a dedicated program. Vestas employees receive discounted electricity rates and a waived monthly fee for the first 6 months. This is a targeted B2B2C partnership leveraging Vestas's employee base.
• EKOenergy (International Eco-Label)coreStrategic or Co-development PartnerNordic Green Energy is the first electricity company in Sweden to offer EKOenergy, the only international eco-label for electricity. EKOenergy is supported by over 40 environmental organizations from 30 countries and recommended by US Green Building Council, CDP, and Greenhouse Gas Protocol. Nordic Green Energy sells EKOenergy-certified electricity and contributes to EKOenergy's international environmental projects.
• Bra Miljöval (Good Environmental Choice)coreStrategic or Co-development PartnerNordic Green Energy has partnered with Bra Miljöval since 2010, offering electricity contracts certified by the Swedish Environmental Protection Association (Naturskyddsföreningen). Each sold kWh contributes approximately 2 öre to Bra Miljöval's environmental fund, supporting projects like fish passages at hydroelectric plants, endangered species protection, and energy efficiency initiatives.
• Bygdegårdarnas Riksförbund (Rural Community Association)minorGTM or Marketing PartnerNordic Green Energy entered into a partnership with Bygdegårdarnas Riksförbund in 2010, offering preferential electricity contracts to the association's members.
• Hyresgästföreningen (Swedish Tenants' Association)minorGTM or Marketing PartnerNordic Green Energy started a partnership with Hyresgästföreningen in 2013, providing electricity contracts to the association's members.
• Svenska Orienteringsförbundet (Swedish Orienteering Federation)minorGTM or Marketing PartnerNordic Green Energy entered a sponsorship/partnership with the Swedish Orienteering Federation in 2015.
• KundkraftminorChannel Partner/ Reseller/ DistributorNordic Green Energy previously served as the electricity supplier for Kundkraft's cooperative auction model. Kundkraft is now winding down operations (as of late 2022) due to unfavorable market conditions with high electricity prices and new EU regulations preventing binding of variable contracts.
• Otovo (Residential Solar Panels)minorChannel Partner/ Reseller/ DistributorNordic Green Energy partners with Otovo to offer residential customers a 1,000 kr discount on solar panel packages. Otovo handles installation, and Nordic Green Energy customers receive the discount when purchasing through the partnership link.
• Market-Leading Solar Panel Suppliers (Commercial Installations)minorChannel Partner/ Reseller/ DistributorFor commercial and agricultural solar panel installations, Nordic Green Energy partners with market-leading suppliers. Requirements for commercial installations: minimum 100,000 kWh/yr production estimate, minimum 63A subscription, minimum 300 sqm roof area, minimum 1,000 sqm property.
• Swedish Energy Agency (Energimyndigheten)coreOthersNordic Green Energy's electricity is origin-labeled by the Swedish Energy Agency (Energimyndigheten), which certifies that electricity comes from fossil-free sources without CO2 emissions. The Energy Agency also administers origin guarantees, electricity certificates, and tax reduction schemes for renewable energy.
• Ishavskraft ASminorOthersIn 2016, Troms Kraft (Nordic Green Energy's original owner) acquired Ishavskraft AS, which became Nordic Green Energy's Norwegian sister company. This is an intra-group relationship rather than a third-party partnership.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Bixia: Swedish retail electricity supplier serving residential and business customers with renewable energy options; Bixia is also part of the Elmera Group (via Bixia AB) and is therefore the closest intra-group comparable to Nordic Green Energy in product mix, geography and customer segments.
• Telge Energi: Swedish municipal electricity retailer owned by Södertälje municipality, offering renewable electricity contracts and solar services to households and businesses across Sweden. Directly comparable in product set (variable and fixed contracts, environmental add-ons) and customer base.
• Jämtkraft: Regional Swedish energy company serving residential, business and public-sector customers with renewable electricity and district heating; vertically integrated with its own hydro generation, making it a strong comparable on customer segments and a contrast on vertical integration.
• Skellefteå Kraft: Swedish municipal-owned energy company offering renewable electricity contracts, solar and EV charging solutions to households and businesses. Comparable in renewable-only positioning and broad Swedish customer base.
• Kraftringen: Swedish regional energy company active in electricity retail, district heating and e-mobility, serving residential and business customers in southern Sweden. Comparable on retail electricity and renewable-energy product mix.

Emerging players

• Tibber: Nordic digital-first electricity retailer operating in Sweden, Norway and Germany with a mobile app for consumption control and dynamic pricing. Comparable target market and digital-led proposition; emerging challenger rather than incumbent.

Broad incumbents

• Vattenfall: State-owned Swedish utility and one of Europe's largest generators and retailers of electricity, including renewables. Operates broadly across generation, retail, heating and EV charging; comparable as a large incumbent competitor to Nordic Green Energy in the Swedish retail market.
• Fortum: Large Finnish/Nordic utility with significant retail operations in Finland and Sweden, including renewable generation assets. Comparable on Nordic retail electricity supply, particularly in Finland where Nordic Green Energy also operates.
• E.ON Sverige: Swedish arm of European utility E.ON, offering electricity, gas and energy services to residential and business customers across Sweden. Comparable as a broad incumbent competitor in retail electricity and solar services.

Others

• Otovo: Oslo-listed residential solar installer active in Sweden, France, Germany and other markets; Nordic Green Energy partners with Otovo (1,000 kr villa discount) and refers solar customers to it. Adjacent rather than directly competing, but linked via the same residential prosumer journey.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NordicGreenEnergy.Sweden
• LinkedInlinkedin.com/company/nordicgreense
• Instagraminstagram.com/nordicgreenenergy
• Xx.com/nordicgreen_fin

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nordic Green Energy