Statnett's financial results are consistent with the reports from fourth quarter 2014. The result for 2014 in combination with a good financial position contributes to realization of Statnett's development plans.
In 2014, Statnett met company objectives that are important for the development of the next generation power system. Investments in grid facilities and Statnett's project scope reached new record levels. Several new facilities critical for security of supply were commissioned, as well as central IT systems.
Despite the increased activity level, Statnett's improvement work within HSE resulted in a 50 percent reduction in lost-time injuries. The work relating to the Nordic region and Europe has progressed, through commissioning of the Skagerrak 4 interconnector and implementation of price coupling in North Western Europe.
In order to promote further growth as well as increase cost efficiency, Statnett reorganised the company in 2014 and introduced a broad efficiency improvement programme. The results from the program exceeded the targets set for 2014. In addition, the 2014 employee opinion survey shows a continued high score.
The high project activity level resulted in a number of controlled outages in a highly utilised and ageing grid. More frequent occurrence of extreme weather conditions represents an additional challenge. In 2014, system operations maintained high quality also in challenging periods. Operations were stable and the power situation in Norway remained good throughout the year.
Statnett plans to invest NOK 50 – 70 billion in new grid capacity in the next ten year period. This includes the interconnectors to Germany and England in which 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 central grid.
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