The project funding for energy efficiency and renewable energy production is proposed to increase in 2004. The available means for the Energy Fund, managed by Enova, will add up to NOK 600 million in 2004. This represents an increase of NOK 130 million compared to 2003.

- These measures will increase security of supply and reduce price fluctuations. This is good news for the consumer, says Einar Steensnæs, Minister of Petroleum and Energy.

The mark-up on the distribution grid is increased from 0.3 to 0.8 øre per kilowatt hour (kWh) from 1 January 2004. This measure alone will provide NOK 460 million in 2004. In addition, the Government proposes to transfer NOK 130 million to the Energy Fund over the State Budget.

The Government leads an ambitious policy to make Norway's energy supply less dependent on hydro power as energy source and electricity as energy carrier. Long term measures are necessary to provide for increased renewable energy production and energy efficient solutions. Through projects supported by Enova, the Government wishes to arrange for a more resilient energy supply and more flexibility in energy consumption.

Our efforts in transforming energy production and consumption consist of different measures in order to stimulate alternative and new business. Enova is the operator of several programmes pursuing the goals of transforming the energy market. Competition between different solutions is of vital importance in order to provide for cost reductions and extended market access for new energy solutions. Our goal is to make these solutions profitable without public support in the long run.