April 1st this year the consumption tariff for Statnett's tariff was set to zero. This is now also done for the energy component, which covers the cost of losses in the transmission grid.

Statnett has extraordinarily high congestion income from interconnectors as well as from bottlenecks in the Norwegian national grid recently. This congestion income comes from large price differences between Norway and the neighboring countries, as well as between domestic bidding zones.

At the same time as the congestion revenues provide large additional income for Statnett, high costs for grid losses result in high expenses for many regional grid companies. Statnett's decision to set the energy component to zero from September will reduce these costs and help reduce the consequences for customers.

"The income we get from electricity transmission is record high. At the same time, the costs of network losses are also higher. We want to compensate this cost so that more of the congestion revenue goes to Norwegian consumers and the industry," said CEO of Statnett, Hilde Tonne.

Statnett also decided today that the fixed component for consumption and the energy component in the tariff will be set to zero through 2023. The biggest compensation will be in Southern Norway, where the prices are the highest and also the cost of grid losses.

"It is important for us to ensure that the extraordinary income benefits grid customers. This decision means that grid customers will receive NOK 11 billion in reduced tariffs for Statnett," Hilde Tonne concluded.