We didn’t think electricity could get more expensive. But it will be – with constantly new price records. And there is no improvement in sight. Everything indicates that, on the contrary, it will get worse.
Less than 20 minutes ago
Some places in the country, mind you. Because the electricity price varies dramatically, depending on where in Norway you live. In the north it is a few pennies, in the south it is several kroner. The highest price that has been measured so far is around NOK four. That’s how we can hardly believe it.
The situation is unsustainable. In the south of Norway, the price of electricity is disproportionately high. At the same time, in the north, it is so low that it is not profitable to facilitate increased power production. Both parts are problematic. In the long term, there must be solutions that reduce or eliminate such imbalances internally in Norway.
Has served us well
In the long term, European countries must also ensure that they become less dependent on Russian gas. After Russia’s invasion of Ukraine, we saw how Germany in particular has tied itself closely to Russia in energy policy. Now the Germans have to think again – fast. It is both about speeding up the green shift, with renewable energy, and about finding energy suppliers other than Russia in a transitional phase. Norway plays an important role here.
It is not a solution to close the cables to foreign countries, or to introduce a maximum price for electricity. Today’s arrangements have served us well. We get electricity when we need it (not very often), and we send electricity to our European neighbors when they need it (far more often).
Good support scheme
Through power exports, the state has received large revenues, while ordinary people have received large electricity bills. Therefore, it is absolutely crucial that the state steps in when prices run wild, such as now. Then suddenly it is about distribution policy, probably as much as energy policy.