For only the second time in history, electricity prices in Norway were negative on Monday night. Electricity consumers in Southern Norway were paid up to two øre for each kilowatt-hour.
The last time the electricity price was negative was in July, and then it lasted only one hour, according to E24.
But this time, the minus prices lasted from 1.00 AM to 5.00 AM, i.e., for four hours.
During these four hours, the prices were minus 0.44 øre per kilowatt-hour, minus 1 øre per kilowatt-hour, minus 1.9 øre per kilowatt-hour, and minus 1.5 øre per kilowatt-hour, respectively, according to the power exchange Nord Pool.
Only the price areas around Oslo and Kristiansand registered these prices.
The reasons behind the prices are, among other things, the large amounts of precipitation, strong winds, more production of nuclear power in Sweden, and lower consumption than normal as the temperatures are quite a few degrees above what is expected at this time of year.
Grid rent and other fees applied at the time.
© NTB Scanpix / #Norway Today