The power system is becoming more and more complex. Renewable energy is taking over from fossil fuels. Wind power and other new, renewable energy sources are CO2-free. However, wind power is either on or off – it does not provide the flexibility to increase or decrease production that hydropower from water reservoirs does.
At the same time, consumption varies more than ever before, and more power is flowing between regions and countries. The combined result of these factors is a system that is subject to more fluctuation, just when security of supply is becoming increasingly vital to society.
Smart, efficient and safe
All of this must be taken into account when we construct the power system of the future. Statnett has highlighted three main areas in our strategy.
- First of all, we must choose smarter solutions. This involves digitalisation where appropriate. A well-functioning power system always has its finger on the pulse and reacts quickly when something happens. Automation and better use of data ensure a faster and more accurate response when the balance is threatened. At the same time, we are developing market instruments that make it easier for the system to maintain balance, both now and in the long run.
- Secondly, we are developing a more cost-effective power system. Customers should not have to pay more than necessary for a secure power supply. The combination of digitalisation, well-functioning markets, reasonable investment levels and a constant effort to reduce costs will provide maximum security of supply for the money. At the same time, the secure delivery of power remains a natural foundation for Statnett’s work.
- Last but not least, we must never lose sight of health, safety and the environment. Operating and developing a power system involves risks for both employees and others, and Statnett will never compromise on health, safety and the environment. Statnett has a goal of being among the best TSOs in Europe in terms of HSE.
Social and environmental considerations
Ninety-eight per cent of Norwegian power production is based on renewable energy sources. Statnett’s revenues derive from our main tasks: we own and operate the central grid in Norway, ensure that production reaches the market, and maintain a constant balance in the power system. This is our contribution to making Norway one of the world’s most electrified societies and encouraging further decarbonisation of both Norway and our trading partners.
When we work on corporate social responsibility, we focus on taking social and environmental considerations beyond our statutory obligations. We take social responsibility to contribute to trust in our work and its acceptance.
- Building and operating power lines and substations involves environmental interventions. An important part of our corporate social responsibility, therefore, is to minimise the climate and environmental footprints from our activities. We set environmental requirements in our contracts, and when making decisions we accord the same importance to climate and environmental aspects as we do to technical and economic considerations. Read more about our climate and environmental work.
- We need to hire contractors when we build and operate the central grid. We closely monitor our suppliers to ensure compliance with pay and working conditions, and we work proactively with pay and working conditions at subcontractors. You can read our Code of Conduct for suppliers here.
- Building and operating the central grid entails hazardous work operations. Therefore, we prioritise health, safety and the environment from the planning phase right up to construction and operations. We have a zero tolerance for accidents, which means we must prevent any and all personal injuries in our activities. Read more about our HSE work.
The Board has the overarching responsibility for Statnett’s CSR work. You can read more about how we prioritise our work on corporate social responsibility and ESG in our annual report.