The province of Noord-Holland is to expand its stake in energy company Nuon from its present 9.8% to at least 12%, the Financieele Dagblad reports on Monday. The province will buy the shares from other local authorities who want to sell their interest.

Council deputy Ton Hooijmaijers told the paper it would cost some €150m to buy an extra stake of 1%. The province wants to increase its stake in Nuon in order to keep its voice in the company.