Power companies warn of higher electricity prices / News / The Foreigner

Power companies warn of higher electricity prices. Norwegian households are in for a financial shock. Electricity companies say high demand and low reservoir water levels mean prices could soon almost double. Prices are currently highest in mid and northern Norway, at 56 øre per kilowatt per hour (kW/h) excluding VAT and other fees, but are set to rise all over the country because of freezing temperatures and European outages. “The whole of Scandinavia is cold and almost all available production capacity is being used. Two nuclear power plants in Sweden that normally produce almost 2,000 megawatts are offline until the end of the month,” market analyst Olav Johan Botnen at Markedskraft tells E24.

statnett, electricity, prices, reservoirs, water, increase, weather, cold, demand, norwegian, meteorological, institute



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Power companies warn of higher electricity prices

Published on Thursday, 25th November, 2010 at 13:56 under the news category, by Michael Sandelson   .
Last Updated on 25th November 2010 at 20:33.

Norwegian households are in for a financial shock. Electricity companies say high demand and low reservoir water levels mean prices could soon almost double.

Power pylons
Power pylons
Photo: Statnett


Prices are currently highest in mid and northern Norway, at 56 øre per kilowatt per hour (kW/h) excluding VAT and other fees, but are set to rise all over the country because of freezing temperatures and European outages.

“The whole of Scandinavia is cold and almost all available production capacity is being used. Two nuclear power plants in Sweden that normally produce almost 2,000 megawatts are offline until the end of the month,” market analyst Olav Johan Botnen at Markedskraft tells E24.

Customers are already experiencing cost levels equal to the chilly spell at the beginning of this year. There is little hope of improvement, according to the weathermen.

“Southern Norway will continue to be cold and dry, with no rain in sight. Northern Norway will also continue to be cold, but there can be snow at some stage next week,” meteorologist Pål Evensen at the Norwegian Meteorological Institute tells Aftenposten.

Main grid owner and operator Statnett, believes price increases could also be because there is less water in Norway’s reservoirs than usual at this time of year.

At the end of last week, the company’s own analysis revealed a potential shortage of approximately 33.5 terrawatts per hour.

Water levels are now at 66.5 percent, and more power will have to be imported from abroad to satisfy demand.

“We must all expect to pay more from now on,” says Irene Meldal, Head of Communications at Statnett.



Published on Thursday, 25th November, 2010 at 13:56 under the news category, by Michael Sandelson   .
Last updated on 25th November 2010 at 20:33.

This post has the following tags: statnett, electricity, prices, reservoirs, water, increase, weather, cold, demand, norwegian, meteorological, institute.





  
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