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The Norwegian government said on Wednesday that Norway was delaying a decision
on whether to allow companies to build a new undersea cable between it and Scotland.
The undersea cable project, dubbed NorthConnect and partly owned by Swedish energy group Vattenfall, has sparked controversy over concerns among some Norwegian lawmakers about rising grid costs and electricity prices as the output of wind turbines and hydroelectric power stations is exported
.
Norwegian Energy Minister Tina Bru said planning for the €2 billion project was still ongoing, but the government needed more data on the impact of other power cables currently under construction on the market before it could make a decision
.
State-owned grid operator Statnett is already building two submarine cables to Germany and the United Kingdom, which will begin operating
this year and next, respectively.
Although electricity may flow in both directions depending on supply and demand, Norway wants to be a net exporter
most of the time, as prices in major European countries tend to be higher than domestic prices.
Vattenfall and Norway's state-owned power producer Statkraft have previously called on the government to approve the new cable as producers have struggled with relatively low electricity prices in Northern Europe
.
Other partners in the NorthConnect project, initially scheduled to launch in 2023, are Norwegian power companies E-CO Energi, Agder Energi and Lyse
.
The Norwegian government said on Wednesday that Norway was delaying a decision
on whether to allow companies to build a new undersea cable between it and Scotland.
The undersea cable project, dubbed NorthConnect and partly owned by Swedish energy group Vattenfall, has sparked controversy over concerns among some Norwegian lawmakers about rising grid costs and electricity prices as the output of wind turbines and hydroelectric power stations is exported
.
Norwegian Energy Minister Tina Bru said planning for the €2 billion project was still ongoing, but the government needed more data on the impact of other power cables currently under construction on the market before it could make a decision
.
State-owned grid operator Statnett is already building two submarine cables to Germany and the United Kingdom, which will begin operating
this year and next, respectively.
Although electricity may flow in both directions depending on supply and demand, Norway wants to be a net exporter
most of the time, as prices in major European countries tend to be higher than domestic prices.
Vattenfall and Norway's state-owned power producer Statkraft have previously called on the government to approve the new cable as producers have struggled with relatively low electricity prices in Northern Europe
.
Other partners in the NorthConnect project, initially scheduled to launch in 2023, are Norwegian power companies E-CO Energi, Agder Energi and Lyse
.
