The Power Situation in Norway as of 7 March 2007

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| Source: Nasdaq Commodities
Lysaker, 7 March 2007  

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

Lower prices than last year  
 Nordic electricity prices have dropped by 65 percent since august 2006. In week 9 the average Norwegian price was 21.4 øre/MWh. In august 2006 the weekly price reached a level of 62 øre/MWh. So far this year the average price is 10 øre/MWh lower than in the same period of 2006. 
 Normalized reservoir levels, a large amount of snow, decreased fuel prices and low emission prices are factors explaining the price drop. Energy content of the snow in the mountains is now about 50 percent higher than last year, meaning that the level of snow is approaching the normal maximum level.   The 2007 emission price was 8 kr/ton in week 8. The same week last year the price was 225 kr/ton.

The reservoir level at the end of week 9 was 46.5 percent, i.e. 4.3 percentage points below normal. Swedish reservoir levels are now 38.7 percent, after a 3,6 percentage point drop during week 6.  

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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