Faroese energy minister rules out privatisation of national energy company

The Faroe Islands’ new energy minister has dismissed any possibility of privatising the state-owned energy company SEV, despite calls to reform electricity pricing to accelerate the green transition.

Eyðdis Hartmann Niclasen, the newly appointed minister for energy affairs, told public broadcaster Kringvarp Føroya that privatisation of SEV “is not under consideration.” Instead, she intends to review electricity tariffs to boost the shift toward renewable energy.

Her statement follows remarks by Bárður á Steig Nielsen, leader of the Union Party, who argued that tariff changes would be necessary to make the EFFO wind farm project in Lambahagalata viable. The project, intended to supply power to the Havnsbrún industrial area, has faced criticism from SEV, which maintains that tariff adjustments are not essential.

Niclasen, representing the Union Party in the coalition government, has not yet detailed her specific plans for the energy sector.