93RX Statnett 30

TIDM93RX

RNS Number : 4608V

Statnett SF

14 April 2021

Statnett - Revenue cap for 2021

The Norwegian Energy Regulatory Authority (RME) today announced a revenue cap for Statnett for 2021 corresponding to a cost norm for Statnett equal to about 99,5 per cent of the cost base for transmission and system operations.

As before, regulated revenues for 2021 include a revenue cap based on 60 per cent cost norm and 40 per cent actual costs (cost base). A 99,5 per cent efficiency score compared to the norm will therefore result in a revenue cap equal to 99,7 per cent of the company cost base which is subject to the norm.

At the same time, RME has published changes to the calculation method for the efficiency score now applied for 2021 and onwards. The external TSO peer benchmark comparison is replaced by a comparison to Statnett own historic costs, adjusted by inflation and a non-cumulative productivity factor of 2 per cent (0,6 per cent for certain system operation areas). The change is limited to the benchmarking method and scope. The general regulatory framework remains unchanged.

For further information, please contact:

Statnett SF

Director of Finance Petter Erevik

Tlf: +47 952 82 840

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April 14, 2021 06:12 ET (10:12 GMT)

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