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Electricity 17 times more expensive in Sweden, Denmark and Finland.
Earlier today, Danish, Swedish and Finnish electricity customers experienced electric shocks: the price of electricity was NOK 2.7 per kWh on the energy exchange.
On top of this, come the fees.
Also read: Half of Norway is furious about this electricity tax: it receives support from industry leaders
This afternoon the price will skyrocket to more than 2 crowns per kWh.
In Norway, on the other hand, the price never exceeds 16 øre during the day. Northern Norway is even cheaper.
Many reasons make you cheaper
One thing that Norwegians have not had to worry about during the corona pandemic is high electricity costs. Electricity prices have been historically low for a long time. The main reason has been that hydroelectric power producers have worked hard to empty the reservoirs before the spring thaw, historically to receive a lot of meltwater.
Therefore, the energy production has become too full.
Also read: In 2020 there has been a lot of snow and a lot of wind. Saves you many thousands
But as winter has begun to sweep across Europe, prices have risen again.
The exception is in Norway.
The reasons are several, but a very wet autumn has created a completely unusual situation: usually the water has drained evenly since the beginning of November, but last week NVE reported that the water level rose in the water reservoirs already historically full.
In one week, the water level rose 1.8 percentage points, while last year it fell 2.1 percentage points in the same period.
These filled reservoirs mean that Norwegian hydropower producers are now producing at full capacity. Figures from Statnett show that the export cables to the Netherlands and Denmark have been operating at full capacity in the last two weeks, and still the water level is rising.
Various other reasons
According to Stina Johansen, communications manager at Nordpool Power Station, there are also several other reasons why Norway is doing well right now, while our neighboring countries are receiving electric shocks:
– There is some limitation in capacity between NO1 (Eastern Norway) and SE3 (Sweden), but 2/3 of the capacity is in operation, he says.
If there had been no restrictions on the transmission capacity between areas in the Nordic region, the price would have been the same.
– There are still reviews of nuclear power in Sweden, so nuclear power now delivers around 60%. This, along with cooler weather and less wind, means that prices are increasing in some areas. Then there is a very good hydrological situation in Norway that keeps prices low here. We (Norway) now export energy in its entirety, and this gives a more uniform price than we would have had otherwise.
Also read: Northconnect costs 17 billion, provides more expensive electricity and lower CO2 emissions; owners want to avoid owning
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