Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 1 September 2020, Norwegian TSO Statnett confirmed that German grid constraints would limit guaranteed minimum import capacity into Germany on the 1.4 GW NordLink interconnector under a regulatory schedule running from 2021 to 2026. The minimum capacity guarantee ramps as follows: 11.7% in 2021, 23.3% in 2022, 35.0% in 2023, 46.7% in 2024, 58.3% in 2025, and 70% by 2026, set against the cable's 1,400 MW nameplate. The guarantee applies in all situations, with actual day-ahead and intraday capacity offered to Nord Pool and EPEX often exceeding the minimum and varying daily based on Statnett's and TenneT's joint capacity calculations. Statnett executive vice president Gunnar Lovas publicly expressed disappointment at the low starting level but said the partners aimed to offer the greatest capacity possible at all times. The decision shaped NordLink's revenue profile for its first five years of commercial operation and informed congestion-revenue and capacity-allocation arrangements between NO2 and DE-LU.