Selective storytelling from Giske – Ytring

In a chronicle about the electricity situation on news Ytring on 15 August, Trond Giske points the finger at NHO for first being the promoter of foreign cables, and then asking for electricity support for companies when electricity prices rise. Much is true in Giske’s story about Norway as an energy nation and the values ​​that hydropower has given us. A surplus of clean, renewable and affordable power has been and should continue to be a competitive advantage for Norwegian business and consumers. We completely agree with that. But the analysis of the acute energy crisis in Europe, which is also affecting Norway, is wrong, and in my view also not in solidarity. Norway has had power exchanges with foreign countries since the 1960s, out of consideration for our own security of supply and vulnerability in dry years. We have a total of 17 power cables out of the country. The last two cables have increased capacity and exposure to Germany and Great Britain, but it is not because of these cables that electricity prices in Norway are high, as Giske might seem to think. Nor are these cables the reason why Germany, Great Britain, Denmark and the rest of Europe have record high prices. The reason for this is Russia’s throttling of the gas supply to Europe, which has created a global energy crisis we have not experienced since the 1970s. 2022 is also a historically dry year in southern Norway, with little inflow into the water reservoirs from snowmelt and precipitation, which has meant that reservoir filling at the start of autumn and winter is the lowest in 20 years. This makes us more, not less, dependent on power connections abroad. NHO agrees with Giske that the consideration of security of supply should weigh heavily, and supports that we must now consider measures that increase Norway’s security of supply within the framework of the power agreements we have entered into with our European neighbours. There is no disagreement here. But today’s extraordinary energy crisis, which was not foreseen or based on any analyses, is not the time for drastic measures to change a power market that has served us well for more than 30 years, or to cut our power connections abroad. I don’t understand that Giske is advocating that either. Norway now has historically high revenues from exporting gas to Europe at sky-high prices, as a result of Russia’s throttling of the gas supply. Gas is used, among other things, for electricity production and heating in Europe, and the high gas price leads to high electricity prices, which also affects Norway. The acute energy crisis we are facing must be resolved with urgent measures, both to help households and businesses affected by sky-high electricity prices, and to safeguard Norway’s security of power supply. The final verdict on foreign cables and the power system as a whole will have to be taken later.



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