District heating customers in Randers and Herning have been paying interest on a debt they had already settled for years.
This is confirmed by the Danish Utility Regulator in a new ruling, which mandates Verdo to reimburse 46 million kroner.
According to the regulator, Verdo has covered interest expenses for loans through heating bills, even thou...
Million bill looming: Energy company charged illegal interest for years
Verdo has acted like a bank—using customers' money. This is the view of the Danish Utility Regulator (Forsyningstilsynet), which criticizes the company for building up large financial assets instead of using the funds to benefit heating customers
A loan to the combined heat and power plant at Randers Harbor has become the focal point of a case involving unlawful interest charges between Verdo and the Danish Utility Regulator. Photo: Annelene Petersen/Jysk Fynske Medier/Ritzau Scanpix
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