October 30, 2018 / 2:39 PM / 10 months ago

Norway raises 2019 revenue ceiling for power grid owners by 4 pct

OSLO, Oct 30 (Reuters) - Norwegian power grid owners, excluding state-owned Statnett, will be allowed to earn revenues of up to 17.6 billion Norwegian crowns ($2.10 billion) in 2019, an increase of 4.1 percent year-on-year, power regulator NVE said on Tuesday.

The ceiling for 2018 stood at 16.9 billion crowns.

The maximum allowed revenue is calculated by using variables that include power prices, and can be subject to change in case of variations in the reference price used by NVE, which was set at 384.4 crowns per megawatt hour.

For individual grid companies, NVE also suggested a limit of 5.82 percent return on grid investments.

Unlike the revenue ceiling, the return is open for discussion between regulator NVE and the companies affected, an NVE spokeswoman told Reuters.

Revenue and return limits for Statnett will be announced later this year, she added.

$1 = 8.3914 Norwegian crowns Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik

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