The Power Situation in Norway as of 14 March 2007

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| Source: Nasdaq Commodities
Lysaker, 14 March 2007  

Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE):     

Reduced electricity consumption  
 The electricity consumption decreased in all the Nordic countries from week 9 to 10. Norwegian power consumption fell by 5 percent, and was 12 percent lower than in the same week of 2006. The downfall was mainly caused by higher temperatures. Lower demand was followed by a decrease in Norwegian and Nordic electricity production.  
 Reduced electricity demand made electricity prices at the Nordic power exchange decrease further from week 9. Hourly prices in the Norwegian price areas were identical throughout the week. Average price in week 10 was 20 øre/kWh, 1.4 øre/kWh lower than in the week before. In week 10, a spot price contract with a 1.9 øre/kWh mark up would have given a price of 26.9 øre/kWh. This is a decrease of 1.8 øre/kWh from last week.  

Average Norwegian reservoir level was 44.3 percent at the end of week 10. Reservoir levels are now 3.7 percentage points below normal. Swedish reservoir levels decreased by 2.4 percentage points from week 9 to 10, and are now around normal.  

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Contact person at the Norwegian Water Resources and Energy Directorate: 

Marit L. Fossdal, NVE, phone: +47 2295 9353

Tor Arnt Johnsen, NVE, phone: +47 9302 4238

Nils Spjeldnæs, NVE, phone: +47 2295 9274