Power, Power price | Strong price jump: The most expensive stream in history for the third day in a row
Gas prices are now at their highest ever. It has reached over 220 euros per MWh. The coal price is stable at record levels and the CO2 allowance price is also approaching its highest ever quotation of around 95 euros per tonne.
This pressures the price of electricity to end up higher, after South-West Norway has already set a new historical electricity price record this week.
As early as 11 o’clock it became clear that it was a historic new electricity price record on the electricity cable to England on Thursday, which is currently operating at half capacity.
Record upon record
The price in South-West Norway passes 500 euros per MWh for the first time on the Nordpool exchange.
In kroner, this means a price of over 5 kroner per kWh before fees: 6.29 kroner per kWh with VAT.
The price gets worse every day, but a price of DKK 7.37.
It also sets records in Eastern and Western Norway. It will certainly not be as expensive as 21 December last year, it will just be the most expensive of the year: The average price in Oslo will be DKK 4.24, with a price of DKK 5.55 between 9 and 10.
High prices in the countries around us
The price records are linked to very high electricity prices in the countries around us. Germany and Denmark have average prices that are around 6 percent higher than in South-West Norway.
The fact that both Denmark and Germany get high prices means that exports to the two are running close to maximum capacity for large parts of the day and evening:
- 24.5 GWh (24,500,000 kWh) is sent to Germany
- 38.4 GWh (38,400,000 kWh) is sent to Denmark
- 6.4 GWh is imported net from England
According to Nordpool’s overview, Thursday will be net exports on all the country’s foreign connections, with the exception of cable to England.
Corrected: Preliminary figures showed that Norway should also export to England, but this changed when final figures were published.
Fall in the magazines in South-West Norway
At the same time, NVE can report that Southwestern Norway (NO2), which has been below the historic minimum water reservoir filling throughout the summer, had a decrease in reservoir filling from 50.4 to 50.1 percent last week.
The drop corresponds to around 90 GWh.
There was also a decrease in the much smaller magazines in Eastern Norway, while the filling of the magazines in Western Norway has almost stopped.
In central and northern Norway, on the other hand, the magazines are almost historically full. Thus, NVE’s statistics show that Norway as a whole had an increase in magazine filling of 0.4 percentage points. Thus passed Norway as a whole average magazine filling for last year at the same time.