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
Af Anna Cæcilie Christensen Majholm, Camilla Buus Poulsen
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 though the loan in question was unnecessary.
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