The electricity price doubles throughout the country on Monday – most expensive in central Norway

This shows Sunday’s update from Nord Pool.

Only NO5 (Bergen), which has by far the highest electricity prices on Sunday, avoids a doubling of the electricity price until Monday. The whole of southern Norway is collected at an average spot price of 93 øre/kWh – the highest in six weeks.

Central Norway (NO4) is even higher, with 98 øre/kWh on Monday. It is the most expensive in two months. In Northern Norway, doubling the price makes Monday the second most expensive electricity day of the year.

The electricity subsidy is paying off for consumers. With equal consumption throughout the day, the price after electricity subsidy is approximately 75 øre/kWh in the whole country, before value added tax, fees and network rent.

Night to Monday, the electricity price is at its lowest in the whole country – at 70 øre/kWh or just above.

Then the prices rise, but it is very different from the top level.

In southern Norway, the price peak comes at 6 p.m., when the spot price is NOK 1.86/kWh. In the same hour, the price in central Norway (NO4) is a whopping NOK 2/kWh.

Northern Norway does not get quite such high prices. There, the peak is reached at 07.00, with NOK 1.32/kWh.

In the surrounding areas, it is Finland and the Baltics that have the highest electricity prices on Monday.

The graphic below shows how the spot price develops on Monday, in Norway and in the surrounding countries.

The price peak in these areas is reached by Denmark and Germany, with NOK 2.03/kWh at 6 p.m.

Almost full export

While prices were far higher in Norway than in the surrounding countries this weekend, it will be different on Monday. The UK receives imports from southern Norway throughout the day. German electricity prices will also be higher than those in southern Norway on Monday.

This means that there will be almost full exports from Norway to the other countries around on Monday.

Altogether, net exports are expected to be 133 GWh. It is not record levels, but it is relatively high. Norway has only exported more electricity 24 hours a day earlier this year, both at the start of March. Before that, we have to go back to October last year to find similar export levels. But this is not unusual either: in winter, we need the electricity that is produced to a greater extent for our own consumption.

Only to the Netherlands will there be no net imports on Monday, since prices there are roughly at the same level as southern Norway.