The Ministry of Petroleum and Energy presented the green paper on law amendments, to ensure that Norway’s hydropower will remain in public possession. The Minister of Petroleum and Energy Mrs. Åslaug Haga, stresses that the amendments will secure and strengthen the public ownership of waterfalls and hydro power stations at state, regional and local level. Minister Haga wants to lay down this directly in wording of the Industrial Licensing Act.
Hydropower is the main energy source in mainland Norway, from which almost all the electricity production is derived. Hydropower is a renewable energy source without emissions, and it will gain further value in the future. Hydropower is important in securing the energy supply. Diversified public ownership ensures that there is a large number of competitive hydropower producers in Norway.
The rule which allows private investors to obtain up to one-third of the shares in a public undertaking in the relevant sector will be prolonged. However, in order to ensure public ownership, the proposed changes will not allow private investors to obtain more than one-third of the shares in a public undertaking.
As states like Norway secure their own energy supply a Welsh Government must have the powers to do the same in Wales. Powers over all hydropower in Wales should lay with the Senedd not the British.