Revolution in Norway's Electricity Market. Over 700,000 Customers Rush for the New Tariff

"Noregspris" is a government program designed to provide consumers with predictable electricity costs. The offer applies to households and holiday cabins, and the rate of 0.40 NOK/kWh is valid regardless of market price fluctuations. The system is set to replace the current electricity subsidy mechanism, which covers 90% of the price above 0.75 NOK. Orders began before the official launch of the offer – the number of interested customers grew rapidly.

On the first day of order availability, 334,000 customers took advantage of the opportunity to sign a contract. Within an hour of the Elhub portal launch, over 50,000 orders were submitted. By noon, this number had risen to over 150,000. The system recorded extraordinary traffic from both consumers and network consultants handling manual orders.

According to calculations by Europower, the cost to the state on the first day of the offer will exceed 14 million NOK. A breakdown of expenses shows that the NO1 (southern) region accounted for about 5.1 million, NO2 for about 8.4 million, and NO5 for 0.9 million NOK. In the central and northern regions (NO3 and NO4), forecasts indicated a loss for customers of 22 and 16 NOK, respectively.

According to Elhub, 23% of all electricity meters in homes and holiday cabins had an order placed by midnight before the launch.

Although the "Noregspris" system is set to launch today, its impact on customers' bills will only be felt in the coming months, especially during the high-demand season. The level of demand at the outset will be a significant factor affecting the balance between state costs and consumer benefits.