On Thursday, the average price of electricity in Eastern Norway and southern Western Norway will be 53.61 øre per kilowatt hour, according to recent price statistics from the electricity exchange Nord Pool.

This is the lowest electricity price since last autumn, and for the first time since New Year the daily price falls below one kroner per kilowatt hour.

The daily price is plummeting by more than one kroner from Wednesday, as the price is NOK 1.58 per kilowatt hour in the same area.

In the hours between 10 am and 6 pm, the price is less than six øre per kilowatt hour. At the cheapest between 15 and 16 on Thursday, the price is down to three øre.

In the price area Kristiansand, the daily price will be 54.23 øre per kilowatt hour on Thursday, while in northern and central Norway you can expect prices of around eight øre per kilowatt time.

Prices do not include grid rent, fees and electricity companies’ surcharges.

NB! An earlier version of the case stated the wrong daily price for Wednesday. The case has been changed on 25 May at 14.15.

– Unsure of why

Power analyst John Brottemsmo at Kinect Energy wonders about the sharp fall in prices.

– The low prices tomorrow apply to the whole of southern Norway, and many have time off on public holidays. It will probably play a role. There has been some more precipitation, but it should not have much to say for the prices, Brottemsmo says to E24.

He explains that part of the explanation may be that the Norned cable is out of order.

– But I almost have to say be careful why prices fall so much. There is nothing we see in the underlying that can explain the steep fall in prices. One can hope that this continues, but I am not strong in the belief in it, says Brottemsmo.

He says that through tomorrow there are a few hours with negative prices in Denmark and strong winds in Germany, which can also affect something.

– But all in all, we are a little unsure why the prices are so low, he says.

Statnett: The power situation is tight

Throughout much of the autumn, winter and spring, electricity prices have been abnormally high in the south of the country.

On Friday, NVE was in the power companies to meet the power situation until next spring.

The water reservoirs have been filled up somewhat in recent weeks. In week 20, the magazine filling increased by 1.9 percentage points to 25.2 percent, according to NVE. The median for magazine filling at this time of year for the last 20 years is 39.5 percent. Thus, the degree of filling is still unusually low for the season.

High prices for gas power, coal power and CO₂ quotas in Europe result in high electricity prices and an “uneasy and confusing situation” internationally, NVE pointed out on Friday.

On Tuesday, Statnett described the power situation as tight, and stated that the supply situation can be strained in certain cases.

«Great uncertainty in the European energy markets can affect the security of supply for power in Norway. Statnett is following the situation closely and warns that the supply situation may be strained in certain situations towards and in the winter of 2023 “, the company writes in a Message.