Lysaker, 24 March 2004
Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE):
Mild weather during week 12 resulted in a reduced Norwegian and Nordic consumption. Lower demand led first of all to reduced hydropower production. In addition, the influx in the Norwegian power system had become twice as large as normal in week 12. The reservoir level dropped 0.9 percentage points from week 11 to 12; the reservoir level is now 30 per cent. In Sweden, the reservoir level fell through week 12 with 1.7 percentage points to 16.6 per cent.
In week 12, the decrease in hydropower production resulted in a situation where thermal power production covered an increased share of the total Nordic power demand. This contributed to the Norwegian import during week 12 being the highest observed so far this year. The prices in Germany were on average lower than the Nordic prices, due to milder weather and increased wind power production. Lower prices in Germany entailed increased export from Jutland to Norway.
For households with a standard variable contract the average price is stable on 0.334-0.335 NOK/kWh. During week 12, the price was 0.336 NOK/kWh which is the same as a market contract (spot price) with a mark-up of 0.025 NOK/kWh.
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Contact person at the Norwegian Water Resources and Energy Directorate:
Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353