Small Faroese heat pump suppliers criticise new electricity resale rules

Small suppliers of heat pumps in the Faroe Islands have condemned new regulations that will allow private electricity providers to resell power to end consumers, Kringvarp Føroya reports.

The changes, part of a broader energy reform, will enable companies to purchase electricity from the national utility SEV and sell it onward. Critics argue the move favours large suppliers like Effo and Magn, which already dominate the market in heating oil, fuel, and oil-based products.

Áki Mortensen, director of Hita—the first company to sell heat pumps in the Faroes around 20 years ago—has been among the most vocal opponents. His company and other small suppliers say they cannot compete with the major players, which now have expanded authority to bundle heat pumps with electricity sales.

The reform effectively creates a wholesale electricity system where smaller firms risk being pushed out, according to the critics.