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