June 21st 2012
National Grid PLC (UK) and Statnett, Norway’s state-owned energy firm have today confirmed their plans to develop a 1,400MW subsea electricity interconnector between the U.K. and Norway which is set for completion in 2020.
“Together, the two cables will strengthen the North European electricity grid and the supply security in Norway. The cables will be used for profitable trading of power, meaning electricity will flow to Norway when prices in Germany and the U.K. are lower than here. In the same way, we will export when prices are high abroad.” Norway’s energy department said in a statement.
Source: Enzen Global