Statnett SF Statement re congestion revenues in 2021 (7053S)

TIDM93RX

RNS Number : 7053S

Statnett SF

17 November 2021

Statnett SF - High Congestion Revenues in 2021

So far this year, up to and including 16 November, total congestion revenues for Statnett have been close to NOK 3.9 billion. Of this, congestion revenues on the interconnectors amount to just under NOK 2.9 billion.

The power market is divided into price areas. Congestion revenues arise when electricity is transferred through the transmission grid between areas with different power prices. Congestion revenues that arise as a result of cross-border power exchange, i.e. on interconnectors, are divided 50/50 between Statnett and partners in the connected country, while revenues that arise as a result of power exchange between price areas in Norway go to Statnett exclusively. Norway has five price areas, while Sweden has four and Denmark has two. Power price for each price area is determined by the power market Nord Pool for each hour of the day based on supply and demand.

Statnett's permitted revenue is regulated. Statnett's share of congestion revenues are therefore passed on to Statnett's customers through a reduction in grid tariffs. Over time, Statnett's income will correspond to regulated permitted revenue - regardless of the size of the congestion revenues. The extraordinarily high revenue in 2021 will therefore be returned to customers through lower grid tariffs in the years ahead.

Statnett plans to publish calculated congestion revenue estimates regularly on our website in the future. We will return to the market with further information on how this will be done.

Contact

Christer Gilje, kommunikasjonssjef

christer.gilje@statnett.no

Phone: 95 23 71 28

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November 17, 2021 07:48 ET (12:48 GMT)

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