The second quarter of 2008 produced ‘Higher revenues’ of NOK 301 million before tax. Higher revenues occur when revenues exceeds the overall revenue cap set by the regulator NVE. Revenues from the NorNed-cable and bottleneck revenues caused most of the Higher revenues due to considerable price differences between South Norway and other regions/the Netherlands. The accumulated higher revenues at NOK 58 million will lead to lower tariffs in the future and hence reduced group revenues.

 

The Statnett group's total operating revenue was NOK 1,110 million, an increase of NOK 341 million compared with the second quarter of 2007. Operating costs totalled NOK 650 million, compared with NOK 528 million for the same period last year. The rise in costs is mainly due to repair works at a cable connection crossing the Oslo Fjord.

 

Statnett invested in total NOK 690 million in the second quarter of 2008, compared with NOK 846 million in the second quarter of 2007. Total investments in the first half of 2008 amounts to NOK 1,153 million, compared to NOK 1,376 million for the same period in 2007. Statnett’s activities in the near future will continue to be dominated by sustained high levels of investments.

 

Contacts:
Tor Inge Akselsen              
Senior Vice Precident             
Telephone Office: +47 22 52 70 77                                 
Mobile: +47 950 79 520