ODSHERRED: There are serious financial problems in a district heating project at Odsherred Forsyning, where approximately 2,500 properties in southern Odsherred are to be converted from natural gas to district heating, the company informs.
This now leads to a legal investigation to uncover the former CFO's actions in the case and assess potential liability. At the same time, the board of directors has decided to file a police report in one of the matters related to the dismissal of the former CFO.
The CFO was initially fired in January. It was shortly afterwards changed to an expulsion on the grounds that he had violated the company's internal guidelines.
A subsequent review of the finances of the district heating projects now shows that there are serious errors in the calculations by the former CFO, who was also acting CEO of the company from December 2022 to July 2023.
- There is much evidence that the board of directors has not been presented with the real financial basis of the project. Our decisions have been made based on a glossy picture, says chairman of the board Mathias Hansen.
He notes that the tariffs will increase further, and adds:
- Whether this will have an impact on the further expansion of the district heating network is too early to say.
From 950 million to 1.6 billion kr.
The construction costs were estimated at 950 million kr. at the start of the project. In November 2023, they had increased by 3-400 million kr., which was one of the reasons why the utility company expected to raise district heating tariffs by approximately seven percent effective from 2026.
The construction costs are now being adjusted up by a further 200 million kr. to 1.6 billion kr.
In light of the new information, Odsherred Forsyning will investigate the possibilities of putting ongoing construction projects, including summer house sewage and the company's new facilities in Vig, on standby to make it possible to complete the district heating project.
Odsherred Forsyning operates five heating plants in the northern and central part of the area, and three additional heating plants are under construction in southern Odsherred in connection with the rollout of district heating.
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