Analyst says electricity prices could surpass 20 kroner/kWh in Southern Norway this winter

Photo: Håkon Mosvold Larsen / NTB

Electricity prices keep reaching new record highs. This winter, prices could be as high as NOK 20 per kilowatt-hour, chief analyst Tor Reier Lilleholt at Volue Insight believes. 

The price record of NOK 10 this week could therefore be doubled during the winter, Reier Lilleholt told Norwegian Broadcasting (NRK). He emphasized that this is an extreme scenario but added that he has stopped believing that there is a ceiling on the price of electricity.

“A month ago, NOK 5-6 were quite high prices, and NOK 10 was something unthinkable,” Lilleholt noted.

The analysis company has calculated that electricity prices in Southern Norway would have been a quarter lower if the foreign cables out of Norway had not been built.

Statnett, for its part, told NRK that their main conclusion from last year shows that electricity prices would have been very high even without the cables.

“We can neither confirm nor deny the findings in Volue’s simulation, but there is reason to assume that the effect of the cables is higher now than in 2021. Right now, we are probably outside most analytical models, and it is difficult to be absolutely sure of anything,” Statnett stated.

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

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1 Comment on "Analyst says electricity prices could surpass 20 kroner/kWh in Southern Norway this winter"

  1. Vernon Childers | 31. August 2022 at 22:04 | Reply

    Do you think you have problems?

    California goes haywire! Electric car owners are told NOT to charge their vehicles because of heatwave – just days after announcing 2035 ban on gas cars
    Californians are being advised not to charge their electric cars between 4 and 9pm from Wednesday to Tuesday due to the excessive heatwave
    They are also being advised to set their thermostats at 78 degrees or higher, avoid using large appliances, and turn off unnecessary lights
    The move comes just weeks after the state passed a future ban on gas-powered cars by 2035
    Officials have not said how they plan to deal with an overwhelmed power grid in the future as more electric vehicles hit the roads and charging ports
    ‘It’s too soon to tell what the impacts of the 2035 ban will be,’ Anna Gonzalez, of CA ISO, told DailyMail.com
    California and the rest of the West is expected to deal with excessive temperature and prolonged heat as Labor Day weekend rolls through

    https://www.dailymail.co.uk/news/article-11165279/Californians-urged-not-charge-electric-cars-just-weeks-ban-gas-cars.html

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