On Tuesday afternoon, the price of electricity will rise to NOK 2.22 per kilowatt hour in southern Norway. This means that the region receives the most expensive electricity in Northern Europe, in the hours between 5 and 7 p.m. We have to go all the way back to 8 March, i.e. almost nine months ago, to find a higher daily price in southern Norway, according to Europower. The expensive electricity is mainly due to the cold winter weather in Norway and the other Nordic countries. – It is bitterly cold throughout most of the country, and this is the most important reason, says Olav Johan Botnen, power market expert at Volt Power Analytics. – Power prices may rise further There are often large variations in electricity prices in different parts of Norway, but it is often in the south of the country that you feel the high electricity prices. The electricity price is therefore the spot price before electricity subsidy, network rental and taxes. Consumers are protected through the government’s electricity subsidy, and therefore “only” have to pay around 85 øre per kilowatt hour for the most expensive hour, before taxes and network rent, according to Europower. Olav Botnen in Volt Power Analytics. Photo: Erik Wiig Andersen / news It is difficult to confirm whether the high prices are just a “hype”, or whether they are here to stay, according to Botnen. – With very cold weather both here and in Europe, the power price may rise further, but most likely the weather will change several times throughout the winter. For the first quarter next year, between January and March, the price for southern Norway is expected to be around 115-120 øre per kilowatt hour. – Milder weather results in significantly lower electricity prices, especially if there is a lot of wind and precipitation at the same time! Northern Norway gets Europe’s lowest electricity price At the same time that consumers in the south of the country get the most expensive electricity in Northern Europe, Northern Norway gets the lowest electricity prices in the whole of Europe on Tuesday. These are the five price areas for electricity that Norway is divided into. Graphic: Norwegian Petroleum Directorate – In northern Norway there is a large surplus of power, and there are limited power lines to the south, which means that the power price ends up being significantly lower there than in the south, explains Botnen . The lowest hourly price in the north is 24 øre per kilowatt hour, night to Tuesday. It will be most expensive at 9 o’clock on Tuesday morning, with a price of 38 øre per kilowatt hour. In central Norway, the daily price will be 50 øre per kilowatt hour.
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Most expensive electricity in nine months – news Vestland
