Hardanger Energi

What Hardanger Energi does

Hardanger Energi AS is a Norwegian municipal energy company headquartered in Kinsarvik, Vestland county, operating as an integrated regional electricity utility in the inner Hardanger region. The company owns and operates six small-scale hydroelectric power stations (Eidesfoss, Folkedal, Haugafossen, Kinso, Tveitafoss, and Ulvik) with combined annual production of approximately 100 GWh — sufficient to supply roughly 5,000 Norwegian households. Electricity distribution is conducted through wholly-owned subsidiary Indre Hordaland KraftNett AS, which holds a regulated concession to operate the grid network in the municipalities of Eidfjord, Ulvik, and the former Ullensvang, Jondal, and Granvin. The company is 100% owned by Energiselskapet Hardanger AS, itself owned by three municipalities (Ullensvang 60.5%, Eidfjord 24.2%, Ulvik 15.3%), with profits flowing back to local government owners.

The company generates revenue through multiple streams: retail electricity supply to residential and commercial customers via spot-price contracts (Hardanger Spot / Hardanger Spot Bedrift), fixed-price contracts (Hardanger Fast Bedrift), index-based hedging products (Hardanger Energi Indeks), and prosumer contracts (Hardanger Pluss); regulated grid tariff income via Indre Hordaland KraftNett AS; broadband and IT services (fiber optic, wireless, IPTV) through subsidiary Hardanger Energi Breiband AS (acquired 2022); EV charger installation services via partner Zaptec; guarantees of origin certificates from its named hydro plants for B2B sustainability reporting; and professional services for other small hydro producers including power trading, operations management (sakkyndig driftsleder), and el-certificate brokerage. Pricing follows Nord Pool NO5 (Bergen) spot rates with retail markups of 4.9 øre/kWh (private, incl. VAT) and 3.92 øre/kWh (business, excl. VAT), plus monthly fixed fees. The company is part of the Wattn Alliansen marketing alliance and integrates with Elhub (national metering hub), Signicat (BankID digital signing), and LetsPay (SMS payment reminders).

Hardanger Energi's go-to-market is direct-to-consumer via website (hardangerenergi.no) and a mobile app, with sales-led outreach for business customers and a separate gjennomfakturering (combined billing) arrangement with Indre Hordaland KraftNett, BKK, and Elvia that delivers a single invoice covering both electricity and grid fees. The company serves a tightly defined regional customer base in three municipalities, and its forward strategy centers on the Tveitafoss Kraftverk capacity expansion (operational spring 2026, +23.6 GWh), the planned Tysso Kraftverk replacement, battery integration pilots for grid resilience, and continued product modernization including a December 2025 app/portal relaunch.

Name

Hardanger Energi

Legal name

Hardanger Energi AS

Website

https://hardangerenergi.no

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Hardanger Energi AS is a municipality-owned Norwegian hydroelectric power company operating six hydro plants (~100 GWh/year) and an electricity grid concession in the inner Hardanger region, serving residential and business customers with retail electricity, broadband, and EV charger services.

Ownership category

akta.pro rank

Headquarters

HQ city

Knarvik

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Electricity Supply - Residential (Privat): Hardanger Energi sells electricity to private households under spot price contracts (Hardanger Spot) with a fixed monthly fee and variable consumption-based charge. Pricing follows Nord Pool hourly spot rates plus a markup of 4.9 øre/kWh including VAT and el-certificates. Monthly fee is 39 kr. Revenue is recurring and consumption-based.
2. Electricity Supply - Commercial (Næring): Hardanger Energi sells electricity to business customers under several contract types: Hardanger Spot Bedrift (spot price with 3.92 øre/kWh markup excl. VAT, 31.20 kr monthly excl. VAT), Hardanger Fast Bedrift (fixed price at 70 øre/kWh + 79 kr/month, for Ullensvang municipality customers with binding until end of 2027), and Hardanger Energi Indeks (index-based fixed price with 3-year horizon). Revenue is recurring and volume-based.
3. Hydropower Generation: Hardanger Energi operates 6 owned hydroelectric power stations generating approximately 100 GWh annually. Self-generated electricity is sold into the grid or directly to customers. The company also trades power from other producers and handles concession power for municipalities.
4. Professional and Consulting Services: Hardanger Energi offers technical services including acting as expert operations manager for high-voltage installations in power stations (Sakkyndig driftsleder), water resource technical responsibility (VTA), project management for construction and operation of hydroelectric facilities, power trading for producers, and trading of el-certificates and guarantees of origin. Revenue is service-based.
5. Broadband and IT Services: Through subsidiary Hardanger Energi Breiband AS, the company provides fiber optic broadband, wireless broadband, and IPTV services to private homes and businesses in inner Hardanger region.
6. EV Charger Installation and Services: Hardanger Energi offers EV charger installation services through partner Zaptec, with installation costs of 529 kr/month for 3 years (included on electricity bill), covering standard installation of Zaptec Go charger, circuit breaker, cable, and documentation. One-time payment option also available.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Hardanger Energi AS generates hydroelectric power at six owned small-scale power stations producing approximately 100 GWh annually and retails electricity to private households and commercial customers in the inner Hardanger region of Norway through spot-price, fixed-price, index-based and prosumer contracts. The company also operates a regulated electricity distribution grid through its subsidiary Indre Hordaland KraftNett AS, provides fiber broadband via Hardanger Energi Breiband AS, installs Zaptec EV chargers, and issues Guarantees of Origin certificates for renewable electricity from its named hydro plants.

Product overview

Hardanger Energi is a regional hydroelectric power utility offering a portfolio of electricity supply products for both private consumers and businesses, supplemented by broadband services through its subsidiary Hardanger Energi Breiband. The core offering consists of spot-price contracts (Hardanger Spot for private, Hardanger Spot Bedrift for business) that track Nord Pool hourly prices, fixed-price alternatives (Hardanger Fast, Hardanger Fast Bedrift), index-based hedging products (Hardanger Energi Indeks), and prosumer contracts for customers with small-scale production (Hardanger Pluss). The company also resells and installs Zaptec Go EV chargers and offers origin guarantees (opphavsgarantiar) from its six hydroelectric plants. Broadband services are delivered under the Hardanger Energi Breiband brand.

Differentiator

Problem solved

Functional benefit

Brands

• Hardanger Spot: Spot price electricity agreement with hourly pricing, 4.9 øre/kWh markup, 39 kr monthly fee
• Hardanger Fast
• Hardanger Pluss
• Hardanger Energi Breiband
• Hardanger Energi Indeks

Products and services

• Hardanger Spot (Residential Spot Contract)

Quantifiable outcome

• ~100 GWh annual renewable electricity production, sufficient for ~5,000 Norwegian households
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Kinsarvik Breiband AS and Okapi AS (acquired, now Hardanger Energi Breiband AS)coreOthers · 1 January 2022Kinsarvik Breiband AS and Okapi AS were acquired in autumn 2022 by Energiselskapet Hardanger AS and now operate under Hardanger Energi Breiband AS, delivering broadband and IT services in the inner Hardanger region.
• Wattn AlliansenminorGTM or Marketing PartnerHardanger Energi participates in the Wattn Alliansen, a marketing and services alliance of Norwegian electricity companies. The alliance contributes to efficiency gains and provides members with a marketing platform better than what individual members could operate independently.
• ZaptecminorChannel Partner/ Reseller/ DistributorHardanger Energi offers Zaptec Go EV chargers to its customers through a partnership with an installation company based in Istad (Voss). Zaptec Go is a Norwegian-made EV charger that has performed well in tests. Installation costs are added to the customer's electricity bill.
• SignicatcoreTechnology or IntegrationSignicat provides the digital signing service used by Hardanger Energi for contract finalization. Customers sign new electricity supply contracts using BankID through Signicat's platform on behalf of Hardanger Energi.
• Elhub AScoreTechnology or IntegrationElhub is Norway's national IT platform for collecting and distributing electricity metering data. Hardanger Energi uses Elhub for meter point registrations, supplier switching, and as the platform for customers to order Norgespris (Norwegian government electricity price plan) through 'Min Side'.
• Indre Hordaland KraftNett AScoreOthersIndre Hordaland KraftNett AS is a wholly-owned subsidiary of Energiselskapet Hardanger AS (same parent as Hardanger Energi). It is responsible for the electricity grid network in the concession area of Eidfjord, Ulvik, and former Ullensvang, Jondal, and Granvin municipalities. Hardanger Energi has a 'gjennomfakturering' (combined billing) agreement with this grid company.
• BKK and Elvia (grid companies)minorOthersHardanger Energi has 'gjennomfakturering' (combined billing) agreements with BKK and Elvia grid companies, allowing customers in these grid areas to receive both electricity and grid fees on a single invoice from Hardanger Energi.
• Norges vassdrags- og energidirektorat (NVE)coreOthersNVE (Norwegian Water Resources and Energy Directorate) is the regulatory authority for Norway's energy sector. Hardanger Energi works with NVE for licensing of power plant upgrades and operations. The company has received NVE approval for upgrades to power stations (e.g., Tveitafoss) and NVE exemptions for water flow requirements (e.g., Kinso kraftverk).

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Skagerak Energi: Regional Norwegian utility owned by Statkraft and municipalities, providing electricity retail and grid services. Highly comparable structure: municipal ownership, mixed hydro generation, multi-product retail offerings, and broadband (Skagerak Fiber).
• Helgeland Kraft: Regional utility in northern Norway owned by municipalities, providing hydro generation, electricity retail, and grid services. Similar integrated regional utility structure with comparable rural service area focus.
• Istad Kraft: Smaller regional utility in Møre og Romsdal providing hydro generation, retail electricity, and grid services. Most comparable in scale to Hardanger Energi among Norwegian regional utilities.
• Eidsiva Energi: Regional utility in Innlandet with municipal ownership, hydro generation, retail electricity, and broadband (Eidsiva Fiber). Very similar integrated structure with comparable product diversification strategy.
• NTE (Nord-Trøndelag Elektrisitetsverk): Regional utility in Trøndelag offering hydro generation, electricity retail, grid services, and fiber broadband. Closely comparable vertically-integrated regional municipal utility business model.
• Glitre Energi: Regional utility in Buskerud with municipal ownership, hydro generation, and electricity retail. Comparable Norwegian regional municipal utility with similar product portfolio and customer segments.
• TrønderEnergi: Regional utility in Trøndelag owned by municipalities, providing hydro generation, electricity retail, and grid services. Closely comparable scale and ownership profile to Hardanger Energi.
• Agder Energi: Regional utility in southern Norway, majority-owned by municipalities (including Statkraft stake). Operates hydro generation, distribution, and retail — closely analogous business model and ownership structure to Hardanger Energi.
• Lyse Energi: Municipality-owned regional utility in Rogaland with hydro generation, grid operations, and Altibox broadband. Comparable integrated utility model with renewable generation, telecom diversification, and municipal ownership.

Broad incumbents

• Eviny (formerly BKK): Largest regional utility in Vestland county, Norway (same region as Hardanger Energi). Operates generation, distribution, and broadband (Eviny Fiber), and serves as a natural comparison point for a municipal hydro utility expanding into telecom and EV services.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hardanger-energi-as

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 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 Hardanger Energi