Warnings of sharp increase in electricity prices

Power line electricityPower line. Photo Norway Today Media

Electricity prices will double in the next 15 years in Norway, and diesel and the ‘petrol car park’ will almost be gone by 2050, according to the International Energy Agency.

On Monday  the extensive report from the International Energy Agency (IEA) and Nordic Energy Research will be presented. The newspaper Dagens Næringsliv  gained access to the report in which the IEA calls for major changes in the Nordic countries for them to achieve the climate targets.
– We estimate that it will cost a total of 333 billion dollars for the Nordic countries in increased investment. That is if we reckon with fuel savings and other gains, says project coordinator Benjamin Donald Smith of Nordic Energy, which is part of the Nordic Council of Ministers that has commissioned and funded the report.
Seven Nordic research institutions have compiled the content where they have pointed out the need for radical changes.
– I believe that Norway’s role will emerge more clearly as part of the total picture. The most obvious examples would be exports of clean electricity, says Markus Wråke in IVL Swedish Environmental Research Institute, who has been project manager for the report.
Director Stein Lier-Hansen for Norwegian Industry disagrees with the report’s main conclusions.
– It’s just nonsense to believe that electricity prices will double in Norway, and that this will contribute to achieving climate targets. Conversely, we agree that CO2 capture and storage is essential for achieving the goals, says Lier-Hansen.