Faroese government to reverse electricity market liberalisation

The Faroese government will roll back the liberalisation of the electricity market, reversing a policy that had restricted electricity sales to the state-owned energy company SEV, party leader Bárður á Steig Nielsen announced on Friday.

The decision was confirmed by Nielsen, chairman of the Union Party (Sambandsflokkurin), in an interview with Faroese national broadcaster Kringvarp Føroya. The change will take effect on Monday, with Eyðdis Hartman Niclasen—also of the Union Party—set to oversee the electricity market as the new energy minister.

The previous regulation, introduced under former minister Ingilín D. Strøm, had granted SEV an exclusive monopoly on electricity distribution. The policy shift marks a return to the earlier system, though specific details of the new framework were not disclosed.