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Lower power prices. The power prices in the Norwegian elspot areas fell 13-16 percent during week 29.
This reduction in prices is connected to reduced power demand in the entire Nordic region caused by reduced consumption during the summer holidays and milder weather.
The prices were particularly low during nighttime and the weekend, which are the hours of the week when power consumption is at its lowest. High water inflow and flood in Eastern-Norway was probably one of the reasons for the low prices at night and during the weekend. In addition, higher wind power production in Denmark and continental Europe and nuclear power production in Sweden, also contributed to the price fall in these specific hours.
In Eastern- and Southwestern-Norway the average power price for the week was 27,9 øre/kWh, in Mid- and Notrthern-Norway 28,5 øre/kWh and in Western-Norway 26,4 øre/kWh.
For more information, please call:Adviser Finn Erik L. Pettersen, phone: +47 22 95 98 45Higher Executive Officer Margit Iren Ulriksen, Phone +47 22 95 94 08