Statnett, National Grid To Lay Power Cable Between Norway, UK

The Norwegian state-owned electricity grid operator Statnett Monday said it plans to lay a 800 kilometer power cable between Norway and the U.K., in cooperation with U.K.'s grid operator National Grid (NG.LN).

According to a statement from Statnett, the project can be completed between 2017 and 2020. It added that the subsea power cable, which will have a capacity of 1,400 megawatt (MW), will be the longest ever laid.

The planned cable between Norway and the U.K. will reduce fluctuations in electricity prices and enable further installment of renewable power, in both Norway and the U.K., Statnett said.

"The cable between Norway and England is planned as part of the main grid. This means that profits will go back to consumers in the form of reduced tariffs," Statnett said.

-By Sven Grundberg; Dow Jones Newswires; +46-8-5451-3093; sven.grundberg@dowjones.com