Power price, Power | Strong jump in electricity prices – the year’s most expensive electricity in the East
(The online newspaper) This second week in August is shaping up to be by far the most expensive summer week we’ve ever had, and on Friday the price jumps up around 24 to the highest level of the year in both Eastern and Western Norway.
The new price record is 274.7 øre per kWh – before adding VAT. This gives consumers a price of NOK 3.43 including VAT.
The price varies by one kroner throughout the day, and in the morning the price is 4.35 kroner per kWh.
In South-Westland, the price is even higher: The price rises above 4 kroner without VAT, and ends up at 5.04 øre including VAT – and a price of a whopping 5.76 kroner.
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Unusually large differences between central Norway and northern Norway
Central and Northern Norway have had a hard time in terms of prices for a long time, but they differ by layer on Friday:
Northern Norway continues at exceptionally low prices, while Central Norway gets a few hours of what we can historically call normal electricity prices in the middle of the day.
This means that the average price will be almost 20 times higher in central Norway and northern Norway.
High export
The high price together with a quite sharp increase in exports, and there will be high net exports to both England, Germany and Denmark:
- 14.4 GWh sends net to Germany
- 25.8 GWh is sent net to Denmark
- 22.5 GWh net sent to England
The maximum capacity on the cable to Germany and England is 33.7 GWh during a 24-hour period. Several cables with a total capacity of 40.1 GWh go to Denmark.
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This is the first time in a while that the three countries have all imported large quantities from South-West Norway.
NVE explained the high electricity prices in this way in its weekly report:
– The high power prices are connected to the low power production and the very high price level in the countries Norway has international connections to. The fact that power prices follow the price level in relation to neighboring countries is an expression of several hydropower producers saving on water.
Friday we get both between high exports and high prices.
The government has announced that they will introduce the possibility of export restrictions. Nettavisen asked Oil and Energy Minister Terje Aasland (Ap) on Wednesday about how this will take place in practice. He referred to the fact that this must now be designed by the professional communities.
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