Delayed melting of snow will probably lead to even more expensive electricity in Norway

ElectricityPhoto: Håkon Mosvold Larsen / NTB
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Low temperatures are delaying the melting of snow, which can lead to even more expensive electricity for people in Southern Norway. 

The spot price on Friday was an average of 209.4 øre/kWh in Southern Norway and 10.9 øre/kWh north of Dovre and the Sognefjord. People in the south of the country thus pay 21 times more for electricity than people in Northern Norway.

The general price development in the spot price is on the rise, Europower reports.

All the input factors required in power production in Europe are rising in price – oil, gas, coal, and CO2.

German futures prices are on the rise – and with that, Nordic futures prices are also going up. The electricity price in the third quarter of this year has gone from 73 øre in February to 150 øre now, Europower notes.

Power traders that Europower has spoken to say that futures prices can continue to approach German and English prices if there are no good refills of water in Southern Norway.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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