Statnett is building an interconnector between Norway and the UK together with British energy company National Grid. The North Sea Link (NSL) interconnector will link the Nordic and British markets, providing benefits on both sides of the cable.
When the winds blow in the UK and wind power production is high, Norway will be able to import power from the British to a lower price than in the Norwegian market and conserve the water in Norway's many hydropower reservoirs.
When there is little wind and a greater need for power in the UK, the situation will be the other way around. The British then can import Norwegian hydropower to a lower price then in the British market and through this secure the power supply.
The advantages of this exchange of green energy include:
- Increased security of supply because one can import more electricity at a lower price when the power situation is tight
- Increased market for power producers when there is a surplus of power in the national market
- Facilitation of higher production and consumption of renewable energy in Norway and the UK, thereby contributing to future climate-friendly energy
- More predictable supply situation and price throughout the year and from year to year
An investment decision for the project was taken in 2015, and the goal is to complete the project by 2021.