Record electricity prices expected in Southern Norway on Monday morning

Charger - electricity pricesPhoto: Gorm Kallestad / NTB

On Monday morning, the price of electricity in Southern Norway will be very high. It will be the most expensive between 8 and 9 AM.

Between 8 and 9 AM, the power price will amount to NOK 2.53 per kilowatt-hour (kWh) in Oslo and Kristiansand. With fees and grid rent included, the price will be NOK 3.75 per kWh this hour.

The hour after, the price will drop to NOK 2.36 per kWh, Norwegian Broadcasting (NRK) writes.

The average price of electricity throughout the day will be around NOK 1.31 per kilowatt-hour in Oslo and NOK 1.32 in Kristiansand, figures from the power exchange NordPool show.

Extra consumption

“It is up to four degrees below normal temperature in Southern Norway, which leads to extra power consumption. At the same time, there is little wind in Norway and the rest of Europe,” analyst Marius Holm Rennesund in Thema noted.

Electricity customers in Central Norway and Northern Norway, on the other hand, will have lower prices. Rennesund says that the rest of the winter is looking better.

“We have had a lot of precipitation, and even though it takes some time, it will lower prices,” the analyst said.

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

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