Power prices, Northern Norway | The electricity price in Northern Norway increases tenfold overnight
In Northern Norway, the average price is estimated at NOK 1.78 per kilowatt hour (kWh) on Monday, and the maximum price is estimated at NOK 3.14, preliminary figures from the electricity exchange show North Pool.
In comparison, prices in the north have varied between a few øre and 30–40 øre since early autumn, and on Sunday the price is between 20 and 33 øre, reports Nordland newspaper.
Energy analyst Olav Johan Botnen in Volue Insight tells the newspaper that the most important explanation for the price jump lies in northern Sweden.
The electricity price again shoots past kroner: Now the low electricity prices for this year are over
Northern Sweden is experiencing the first cold period of the year.
Through a controlled freezing of the northern Swedish rivers, they close large parts of the power production, and thus there is no room for electricity export.
– This means you are connected to the southern Swedish and southern Norwegian electricity prices, which are high after all, Botnen explains to Avisa Nordland.
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The aim of the freezing of the rivers is that the power plants should be able to run without problems throughout the winter, without blockages forming.
He says that the freeze is expected to last for days, and that electricity prices will probably fall again from Wednesday.
The industry magazine Europower writes that the power price on Monday is likely to be the highest so far this year in the two northernmost price areas.
The daily price will probably be the third highest ever in Northern Norway, and you have to go back to November last year to find days when the electricity price was higher than 1 kroner and 79 øre per kilowatt hour.
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The electricity price in southern Norway is also on the way up and passes to kroner. Nevertheless, it is relatively low compared to what you have to pay elsewhere in Europe.
According to Europower, it is low temperatures and little wind that contribute to higher electricity prices throughout Europe.