Lowest electric rates so far this year

PowerPower.Photo: pixabay.com

This weekend, a kilowatt-hour of electricity cost 46 øre at the Nord Pool power exchange. It is the lowest price for electricity so far in 2019.

The price before grid rent and fees is expected to be the same on Monday, says the industry organization Energi Norge in a press release on Sunday.

The fall in prices this weekend is explained by precipitation that has filled the water reservoirs, where there has been less water than normal after last year’s dry summer. In addition, it was milder weather this weekend, which meant that less electricity was used for heating.

Lower demand lowers prices, here as in other markets, writes the Information Manager Aslak Øverås from Energy Norway.

On the supply side, Danish wind power has contributed positively, and we imported electricity from Denmark, Sweden and the Netherlands this weekend. In the past week, Norway was a net power importer.

The weekend’s electricity price is otherwise 20 øre lower than on the most expensive day since the turn of the year.

© NTB Scanpix / #Norway Today