Frost Drives Up Energy Prices Nationwide. Biggest Differences Between North and South

Stable cold and high energy consumption are driving up electricity prices across Norway. On February 9, average rates in many regions exceeded NOK 1.50 per kWh. On February 10, prices rose even higher. The regional pattern is the opposite of usual.

The most expensive electricity on February 10 occurred at 7:45 a.m. In the east of the country, the price reached NOK 3.95 per kWh—the highest rate in Norway. Right behind was the north, with a price of NOK 3.93 per kWh. This is the highest spot price in Nord-Norge since December 2022.

According to analysts, the main reason is the weather. Low temperatures cover the entire Nordic region, resulting in similar price levels in different countries. The differences between areas are minor, except for the situation in southern and northern Norway.

The cheapest electricity was recorded in Sørlandet and Sørvestlandet, in the NO2 area. At 7:45 a.m., the price there was NOK 1.65 per kWh. For years, this region imported high prices from the continent, but this time the situation has reversed. Connections with Germany, where prices have dropped, play a role.

At the same time, the south of the country is struggling with a major snow deficit. The scale of the phenomenon is approaching the levels seen in the winter of 1995–1996. Low temperatures rule out snowmelt. Nevertheless, energy prices remain the lowest in the country.

In the north, expensive electricity is also the result of the situation abroad. Severe frosts in Finland and the Baltic countries are driving up prices there. Additionally, the new Auroralinjen line between northern Sweden and Finland is transferring price pressure to Nord-Norge. According to forecasts, the cold spell may last for several more weeks, meaning continued regional energy price instability.