NVE: Lower electricity prices registered in the Nordic region last week

ElectricityPhoto: Casey Horner / Unsplash
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Mild weather in the Nordic region contributed to lower power consumption and lower prices last week. Weekly wind power production in the Nordic region was also at a record high level. 

Wind power production was around 2.5 TWh and accounted for 25% of the total power production, the Norwegian Water Resources and Energy Directorate (NVE) wrote on Wednesday.

Higher temperatures in the Nordic region last week contributed to lower power consumption than the week before, and combined with a lot of wind, this contributed to lower energy prices.

The highest weekly price was registered in Southern Norway. Southeastern Norway and Southwestern Norway had an average price of 146 øre per kilowatt-hour (kWh), while the price amounted to 140 øre in Western Norway. In Northern Norway, the average price was 25 øre per kWh.

According to the NVE, the price of power in Southern Norway was to a lesser extent affected by the periods with a lot of wind power.

Source : NTB Scanpix / #Norway Today / #NorwayTodayFinance

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