Statnett boosts investment despite rising system costs, reports positive accounting result

Statnett increased its investments by NOK 1.4 bn to NOK 4,744m in the first half of 2025, compared to the same period in 2024, to meet growing demand for grid capacity. However, the company recorded a negative underlying result of NOK 1,261m, a reduction of NOK 2,437m from the previous year, primarily due to significantly higher system operating costs, which surged by NOK 2bn. These costs will be compensated through increased regulated income in 2027.

Despite the negative underlying result, Statnett's accounting result turned positive at NOK 737m, a significant improvement from a negative NOK 313m in the first half of 2024. This was largely propelled by bottleneck revenues more than doubling to NOK 7,338m (from NOK 3,295m in H1 2024), partly offset by increased system operating costs. The company also paid NOK 488m in compensation to the underlying grid due to high bottleneck revenues.

Statnett plans to more than double its investments over the next decade, with ongoing grid portfolio projects increasing from NOK 159bn to NOK 188bn and project count rising from 214 to 235. Efforts are underway to optimize existing lines through temperature upgrades and new technology, alongside new construction, to enhance power flow and reduce price disparities.