After a sharp price increase on Tuesday, electricity prices in southern Norway will continue to rise on Wednesday, new figures from Nord Pool show.
In Eastern Norway (NO1) and Western Norway (NO5) the average price will be 84 øre/kWh, up 5 øre/kWh from today.
In Sørlandet (NO2, Sunnhordland to Buskerud), the average price will be 92 øre/kWh, up 1 øre/kWh from today.
The most expensive hour in southern Norway is at 07.00, when electricity in the spot market costs NOK 1.35/kWh. Customers with electricity support pay 79 øre/kWh in the same hour – plus taxes and online rent.
The lowest price in southern Norway will be on the night of Wednesday, when the price for NO1 and NO5 will drop to 59 øre/kWh.
In Central Norway and Northern Norway, the price will remain roughly unchanged from today; down 1 øre/kWh to 45 øre/kWh. In these two price ranges, the highest hourly price is only 53 øre/kWh.
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This is how the electricity price has developed over the past four weeks:
Almost full export to all countries
But even if prices in southern Norway are increasing, they are also increasing in the surrounding countries. This means that there will only be exports to the Netherlands, Denmark, Germany and Great Britain, as it currently looks.
In addition, there will mainly be exports also to Sweden, with a marginal exception for the connection between Stockholm and Oslo during the night hours on Wednesday.
Overall, there appears to be a flow out of Norway of 157 GWh.
| Country | Export | Import | Net |
| Sweden | 47.3 | 0.6 | 46.6 |
| Denmark | 40.1 | 0.0 | 40.1 |
| The Netherlands | 13.5 | 0.0 | 13.5 |
| Germany | 24.3 | 0.0 | 24.3 |
| Great Britain | 32.4 | 0.0 | 32.4 |
| Total | 157.6 | 0.6 | 156.9 |
In that case, it will be a record for the year, according to Nord Pool’s statistics, which Europower has analysed.
In fact, it has only happened four times before that we have exported this much electricity in one day: three times last summer, and once in November 2022.
The export record for one day is 235 GWh, from 1 August last year.
The graphic below shows how the electricity price fluctuates in the spot market on Wednesday, before network rent and taxes. It is therefore Finland that gets the supremely highest prices, with NOK 3.49/kWh at 07.00.
The newest Finnish nuclear power plant, Okliluoto 3, is currently out of operation. The shutdown was originally announced, but it has become much longer than planned.
