More wind power resulted in lower electricity prices in Northern Europe

On Wednesday, the Norwegian Directorate of Water Resources and Energy (NVE) came out with its weekly update on the water reservoirs and the power situation in Norway.

Net importer

Power prices fell in large parts of Northern Europe last week An important reason was high production of wind power, writes NVE in the weekly update.

In Germany, there were almost zero prices for certain hours on Saturday.

The supply of renewable power on the continent contributed to South, South-West and East Norway being net importers of power last week.

Norway has imported more electricity than we have exported for three straight weeks.

This means that power prices in this country are higher than the countries with which we have exchange capacity.

The weekly price in South-South-West and East Norway was 325 øre per kWh last week, which means a reduction of 20 per cent from the previous week. In central and northern Norway, the weekly price was 68 and 60 øre per kWh, respectively.

Still a record low level of filling

The water reservoirs still have a very low degree of filling, compared to the normal for the time of year. The national average is now 68.1 per cent.

This is an increase of 0.7 percentage points from the week before.

The situation is worst in South-West Norway, where the occupancy rate is only 50.6 per cent. Here, however, it has risen by 0.8 per cent in the last week.

For the magazines in Eastern Norway, the level was 68.5 per cent, up 2.2 percentage points from the previous week.

In both South-West and East Norway the levels are lower than at any other time in the last 20 years.

In Western Norway, the average is 70.2 per cent, while in Central Norway there is a filling rate of 82.6 per cent and in Northern Norway 89 per cent.

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