Expensive Electricity in Norway. Exports Continue Despite Record Shortage
Norway is facing a record shortage of stored energy. Data from the Norwegian Water Resources and Energy Directorate (NVE) shows that in mid-May, energy reserves have never been measured at such low levels. The problem mainly affects the south of the country.
Although the risk of shortage is real, exports are still taking place.
Fot. Pixabay (zdjęcie poglądowe)
On May 11, the government proposed adding NOK 10 billion to fund the Norgespris program. The reason is energy prices higher than previously anticipated. As a result, the state will cover up to about two-thirds of electricity bills. New NVE data indicates that a rapid drop in prices is unlikely.
Reservoirs Are Shrinking. All Due to Water Shortages
In mid-May, Norway's water reservoirs usually begin to fill up. This time, it’s different. The water level in the reservoirs has dropped. In the first half of May, the worst situation was in key energy production areas in the southwest and west.
A similar drop at this time of year was last recorded in 2020. However, back then, there was an unusually large amount of snow in the mountains, which was expected to replenish the reservoirs in the following weeks. This year, the situation is different. The winter in southern Norway was exceptionally poor in snow.
A similar drop at this time of year was last recorded in 2020. However, back then, there was an unusually large amount of snow in the mountains, which was expected to replenish the reservoirs in the following weeks. This year, the situation is different. The winter in southern Norway was exceptionally poor in snow.
All due to low water levels in the reservoirs.Photo: NVE press materials
Will Norway Run Out of Electricity? Authorities Warn of Shortages
NVE calculates the so-called hydrological balance, which includes energy stored in snow, groundwater, and reservoirs. From Trøndelag southwards, there is currently a 24 TWh shortfall compared to normal levels. That’s 5.3 TWh less than ever measured at this time of year.
The situation is better in northern Norway. Nevertheless, across the entire country, the deficit amounts to 22.2 TWh. This is also a historically low level for this time of year. For comparison, Norwegian homes and holiday cabins consumed 40.5 TWh of energy last year.
The situation is better in northern Norway. Nevertheless, across the entire country, the deficit amounts to 22.2 TWh. This is also a historically low level for this time of year. For comparison, Norwegian homes and holiday cabins consumed 40.5 TWh of energy last year.
Despite the shortage, Norway exported more energy than it imported in the second week of May. NVE points out that production increased at hydropower plants with reservoirs. In southwestern Norway, production rose by 21 percent, while consumption increased by only 1 percent. At the same time, since the beginning of March, southern price zones in Norway have had higher average prices than Germany.
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