In Northern Norway, the average price is estimated at NOK 1.78 per kilowatt-hour (kWh) on Mondays and the maximum price is estimated at NOK 3.14, according to preliminary data from the power exchange North pool.
By comparison, prices in the north have ranged between a few øre and 30-40 øre since early autumn, and on Sunday the price is between 20 and 33 øre, he reports northern Lights.
Energy analyst Olav Johan Botnen on Volue Insight tells the paper that the most important explanation for the price jump lies in northern Sweden.
Freeze rivers
Northern Sweden is experiencing the first cold spell of the year.
Through a controlled freezing of northern Swedish rivers, they shut down a large part of the energy production and therefore there is no room for the export of electricity.
– This means that you are connected to the electricity prices of southern Sweden and southern Norway, which are high after all, explains Botnen to Nordlys.
The purpose of freezing rivers is that power plants can run smoothly throughout the winter without blockages forming.
He says the freeze is expected to last two days and electricity prices will likely drop again from Wednesday.
Third highest
The industry magazine Europower writes that Monday’s energy price will likely be the highest so far this year in the two northernmost price areas.
The daily price will probably be the third highest ever in Northern Norway, and you have to go back as far as November last year to find two days where the electricity price was over 1 kroner and 79 øre per kilowatt hour.
The price of electricity in southern Norway is also on the rise and exceeds two crowns. However, it’s relatively low compared to what you have to pay elsewhere in Europe.
According to Europower, lower temperatures and little wind contribute to the increase in electricity prices in Europe.
