New summer record: Electricity price expected to rise even higher on Tuesday

ElectricityPhoto: Nikola Johnny Mirkovic / Unsplash
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Monday’s price record for electricity will be surpassed on Tuesday, when the spot price in southwestern Norway will rise to NOK 3.07 per kilowatt-hour.

The price applies to the electricity area NO2, which includes Vestland county south of Hardangervidda, Rogaland, Agder, Telemark, and former Vestfold.

Tuesday’s daily price will be the highest recorded on a summer day, according to Europower. The previous summer record was set on Monday. In addition, the price on Tuesday will be the highest registered so far this year.

Including grid rent and fees, the price will be around NOK 4 and 50 øre per kWh. However, that is before power subsidies are taken into account.

In the Oslo area (NO1) and the Bergen area (NO3), the spot price on Tuesday will amount to NOK 1.88 per kWh. In Central Norway and Northern Norway, the price will fall to NOK 0.02 per kWh.

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

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