Thousands of Velkommen customers face near-certain losses on prepaid electricity bills because filed claims of just under 75 million kroner, combined with a 30 million kroner secured bank debt reported in court filings, leave ordinary consumers last in a payout queue that experts say already exceeds what the company can realistically recover.
The arithmetic is stark. According to TV 2, Gældsstyrelsen has filed claims exceeding 52.5 million kroner against the Velkommen group. A Swedish financing company won a court order for 36.8 million kroner on 26 June. Total filed claims across Velkommen A/S, Nettopower ApS and B.Energy now sit just under 75 million kroner, as reported by TV 2.
According to reconstruction documents filed at Sø- og Handelsretten, the companies report net positive assets of roughly 42 million kroner. Court filings also indicate that a secured bank holds a claim of around 30 million kroner that ranks ahead of ordinary creditors. Consumer advocates and reconstruction specialists warn that book values rarely survive a distressed sale, leaving consumers with little realistic prospect of recovery.
The fast track to Velkommen bankruptcy
On 2 July, the boards of Velkommen A/S, Nettopower ApS and Vedvarende A/S formally entered reconstruction. According to reconstruction documents filed at Sø- og Handelsretten, the stated goal shifted soon after from rescue to a fast track business transfer followed by bankruptcy. That plan confirms what reconstruction specialist Morten Bjerregaard told TV 2: ordinary people with money owed to them stand relatively poorly and are the last to get paid if anything remains.
Court documents reviewed by this outlet show the reconstructor has warned that bookkeeping concerning creditors appears messy. Late registrations and disputed amounts could push total claims higher still. Meanwhile, according to reconstruction filings, Velkommen’s asset list values customer contracts at over 91 million kroner, a figure based on acquisition cost rather than what buyers will pay for portfolios of dissatisfied households.
Who loses and why
Under Danish insolvency rules, customers with prepaid balances or unreturned overpayments are simple creditors. They rank behind secured banks, tax authorities, employees and professional advisers. As reported by TV 2, the Danish state alone has filed more than 52.5 million kroner in claims, making it the largest single creditor and ensuring the taxman is paid before households see a krone.
According to Eurostat data for 2024, Denmark’s household electricity prices averaged 0.406 euros per kilowatt hour, well above the EU average of 0.291 euros. For gas, Danes paid around 0.156 euros per kilowatt hour versus 0.112 euros across the union. A typical flat using 3,500 kilowatt hours annually pays roughly 1,421 euros for electricity in Denmark compared with 1,018 euros at EU rates. Losing just two months of prepaid instalments can mean approximately 237 euros gone, a figure magnified by Denmark’s high energy costs.
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The expat trap
Velkommen and its sister brands attracted customers through aggressive telemarketing and online signup, drawing complaints consistently documented by consumer groups. That customer base may include many internationals and students, who can carry higher prepaid balances to avoid surprise bills. For non-Danish speakers in Denmark, signing utility contracts in Danish is a known general vulnerability.
Foreign residents who have left Denmark or changed address face compounded risk. They must actively register claims with the court appointed reconstructor or lose any chance of payout. Official notices arrive via Digital Post in Danish, and creditor meetings at Sø- og Handelsretten proceed normally in Danish and without guaranteed English translation.
What customers can do now
Forbrugerrådet Tænk instructs all affected customers to stop payments immediately, cancel Betalingsservice or bank transfers, and switch to a new electricity or gas supplier. Customers who recently sent payments may attempt reversals through their bank, though success depends on timing and bank policy.
Anyone with money owed should formally register their claim once the reconstructor publishes contact details. Documentation is crucial: keep all invoices, bank statements and email correspondence. Customers can file complaints with Forsyningstilsynet about billing practices, though this may not directly recover money from the estate.
Foreign residents leaving Denmark should update contact details with the estate and ensure Digital Post access. Otherwise notices and payout information may never arrive. International desks at major banks or municipality borgerservice centres can help non-Danish speakers navigate the process, though official legal documents are primarily in Danish.
The bigger picture
Denmark overhauled insolvency rules in 2010 to make it easier to save viable parts of distressed companies. New energy market legislation introduced under L69 aims to give consumers access to time-limited fixed price electricity contracts, but those protections mainly help future deals, not customers of failing suppliers like Velkommen.
According to regulatory records, a three month marketing ban imposed in April expires around the end of this month. Potential buyers can then legally acquire and remarket customer portfolios, but negative media coverage remains fresh, depressing sale values. According to reconstruction filings, the gap between the booked value of customer rights and what any buyer will actually pay is where ordinary creditors’ hopes diminish.
The reconstruction plan filed at Sø- og Handelsretten describes the goal as a fast track sale followed by bankruptcy. Consumer advocates and experts warn that many customers are unlikely to recover all their money, and the priority question for most households is now how much they will lose, not whether.
