Statnett's financial results are consistent with the reported figures for the fourth quarter 2015. The result for 2015 in combination with a good financial position contributes to realization of Statnett's development-plans.
Total investments in 2015 was at the same level as the two preceding years, about NOK 6 billion, and reflects satisfactory progress in construction and development of the next generation power system.
In 2015, Statnett made large investment decisions, including the interconnectors to Germany and England, in addition to the project to upgrade Western Corridor. Statnett reports good progress in projects under construction, and parts of the projects Ørskog – Sogndal and Ofoten – Balsfjord is now commissioned.
The system and facility operations have mostly been stable throughout the year. High level of project activity has necessitated outages, and a few extreme weather situations caused breakdowns, which in most cases were repaired quickly. The power situation in Norway was stable throughout the year.
Following years with positive development in lost time injuries, the results for Lost Time Injury Frequency (LTIF) levelled out in 2015. The development reflects an increased number of injuries, however the extent of seriousness is reduced.
With a high activity level, it is important to manage risk and work dedicated on continuous improvements and increased efficiency. Statnett runs a comprehensive cost-efficiency program. The results so far show that Statnett expects to reach the target of 15 % increase in efficiency from 2013 to 2018.
Statnett plans to invest NOK 40 – 55 billion in new grid capacity in the next five-year period. This includes the interconnectors to Germany and England that will contribute to value creation for the society. In the coming years Statnett is expected to assume ownership of the remaining 15 percent of the main grid, increasing the activity level for Statnett.