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NorthConnect Won’t Cancel Plan for U.K.-Norway Electricity Cable

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Sept. 26 (Bloomberg) -- NorthConnect, which plans a power link between the U.K. and Norway, may proceed with the project after a proposed amendment to a law banning cables majority owned by private companies.

All cross-border power cables from Norway should remain under state ownership, the government said in a public consultation call for a proposal to amend the energy act, posted on the ministry website Sept. 18.

“We think that the proposed law amendment leaves room for private owners, and want to have a closer look at the possibilities on offer,” Tommy Loevstad, communication manager for NorthConnect, said by e-mail from Kristiansand, Norway. “The ministry initiative to maintain cross-border power cables under state ownership is surprising, especially since U.K. Prime Minister David Cameron and his Norwegian counterpart Jens Stoltenberg recently emphasized the high priority linking the countries with interconnectors,” he said.

NorthConnect’s plan includes a 1,400 megawatt cable operating by 2020, according to the company’s website. It is jointly owned by Vattenfall AB, Scottish and Southern Energy Plc, E-CO Energi AS, Agder Energi AS and Lyse Energi AS.

To contact the reporter on this story: Torsten Fagerholm in Helsinki at tfagerholm@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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