Statnett SF reported an underlying profit of NOK 914 million for the first half of 2026, a sharp turnaround from an underlying loss of NOK 1.26 billion in the same period a year earlier.
The Norwegian transmission system operator’s net result for H1 2026 stood at a loss of NOK 342 million, reversing a net profit of NOK 737 million in H1 2025. Tariff and congestion revenues fell 27% to NOK 5.36 billion from NOK 7.38 billion in the prior-year period, reflecting lower system utilization and pricing dynamics.
Total permitted revenue for regulated operations reached NOK 15.42 billion in H1 2026, up from NOK 8.65 billion in H1 2025, driven by regulatory adjustments. Operating expenses declined to NOK 8.50 billion from NOK 9.57 billion, partially offsetting the revenue decline.
Capital expenditure during the period rose to NOK 6.4 billion, an increase of NOK 1.7 billion year-over-year, as the company accelerated grid expansion and modernization efforts. Statnett’s Board of Directors noted that 271 network projects remained active at the end of June 2026, compared with 248 at the end of 2025.
Grid connection requests surged, with mature requests totaling approximately 3,500 MW in H1 2026, up from 1,500 MW in the prior-year period. Over the trailing 12 months, the company connected more than 600 MW of new energy consumption and 100 MW of new production capacity to the grid. Existing grid capacity expanded by up to 1,200 MW during the half, primarily through line-rating initiatives that increase transmission line tolerance for higher temperatures.
Statnett currently has 118 line-rating projects planned, with 58 in execution.
