Total operating revenues for the Group in the second quarter of 2011 amounted to NOK 1 189 million compared to NOK 1 573 million in the second quarter of 2010. The Group's operating revenues for the first half of the year amounted to NOK 2 841 million. The corresponding figure for 2010 was NOK 3 843 million. The reduction in operating revenues and profit compared with 2010 was due to a planned downward adjustment of tariff revenues and lower congestion revenues as a consequence of lower price differences in the Nordic region. This is also reflected in the higher revenue which totalled NOK 161 million in the second quarter of 2011 and NOK 490 million in the first half of the year. The higher revenue for the first half year 2010 was NOK 1 309 million. The higher revenue will be returned to Statnett's customers over time through adjustment of tariffs.
In the first half of 2011, the Statnett Group invested NOK 1 399 million, compared with NOK 705 million in the corresponding period last year.
Statnett’s activities will continue to be dominated by the substantial number of investment projects, both planned and ongoing. The investment programme aims to maintain the future security of supply, contribute to value creation and pave the way for better environmental solutions in Norway.
Chief Financial Officer
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