Revenues in the second quarter of 2010 were NOK 1 573 million compared with NOK 576 million in the second quarter of 2009. The increase is mainly due to high congestion revenues. Revenues exceeding the revenue cap will be returned to the consumers through reduced tariffs. In the second quarter of 2010 higher revenue was NOK 429 million. Higher revenue for the first six months of 2010 was NOK 1 309 million.

The Statnett Group invested NOK 785 million during the first half of 2010, compared to NOK 574 million in the first half of 2009.

Outlook

Statnett’s activities in the immediate and near future will continue to be dominated by the high level of planning and implementation of investments. On 2 July 2010, the Ministry of Petroleum and Energy made a decision in the appeal case and granted a licence for an overhead line from Sima to Samnanger (Hardanger). The line is vital to secure the power supply in the counties of Hordaland and Sogn og Fjordane. The decision has caused considerable controversy and discussion. As a result, the Prime Minister decided to initiate an independent evaluation of a subsea cable alternative in the Hardangerfjord. The conclusion is expected within 1. February 2011. Construction works will meanwhile be initiated in Samnanger the autumn of 2010, at the section where overhead lines will be required in both the licensed overhead line alternative and a subsea cable alternative.

Quarterly reports