Denmark • heating bills Proposals that would see the creation of the country’s largest power company are under threat after a large municipal shareholder threatened to block the deal. The creation of Elsam AS from six Danish generation companies is threatened by the Odense municipality, which holds 40 per cent of one of the six. Odense is seeking more attractive costs for its district heating, however, the move could affect some DKr 2.8 billion ($339 million) in government grants that have been set aside to cover stranded costs. Elsam is one of two companies that are being created as part of Denmark’s move towards competition. The market will be fully opened in 2003.