Norway is importing electricity at a high price due to its power exports to Europe, new analysis claims

ElectricityPhoto: Håkon Mosvold Larsen / NTB
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According to the research foundation De Facto, Norway is getting high electricity prices due to its power cables to Europe.

De Facto conducts research for the Norwegian trade union movement, the newspaper Klassekampen writes. It claims that power exports make Norway import high prices from Europe.

“The Norwegian customers will be forced to pay the same as a potential British customer would pay,” Isak Lekve, one of the researchers behind the report, told Klassekampen.

De Facto proposes structural measures to remedy the problems. Increased power production is not enough. Among the proposals are to renegotiate the agreements with Germany and the United Kingdom on Norwegian power exports, stop hydropower exports when there is little water in the reservoirs, and introduce a maximum power price for industry.

“Everyone wants to invest in green energy, but all the major new investments except offshore wind – hydrogen, batteries, carbon capture, and storage – depend on low power prices.”

“Hydro and Equinor have just shelved plans for a battery factory in Southern Norway, but at the same time, there will be battery factories exactly where the cables from Norway come ashore in northern England and Germany. It is quite poetic,” Lekve said.

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

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