The cost of electricity continues to rise

Power line electricityPower line. Photo Norway Today Media

The cold weather continues, as does the increase in the price of electricity. In two months the price of power increased by 67 percent.

Because of a cold autumn, power prices rose in October by 40 percent.

The price at that time was 35 øre per kilowatt hour, compared to 24 øre in September. The cold during the past few days has meant that the price has risen again and is now in excess of 40 øre, writes the newspaper VG.

– The dry autumn weather is the reason why the reservoirs are not being filled and drives the prices up.

In recent days, the cold has caused us to use more electricity, which has increased the prices even more, says Energy Analysis John Brottemsmo of Bergen Energi, a power broker company.

Brottemsmo does not ignore the fact that we could hit the record all-time high price from January and December 2011, when the price per kilowatt hour was 60 øre.

– This will depend on the duration of the cold period. If it stays cold for another four weeks, we are most likely there, he says.

The situation in Europe also has an impact on the price level in this country.

In France, many nuclear power plants are currently closed due to maintenance, in addition to that it is cold. This has meant that the price has reached 90 øre per kilowatt hour.

We won’t experience such a high level in Norway, believes Brottemsmo.

– In Norway, the Oslo area has the highest electricity prices, while prices are lowest in Northern Norway, he said.


Source: NTB scanpix / Norway Today