Friday, 17 August 2018
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NVE published a statement on Thursday saying that there is little threat to the Norwegian energy supply this winter despite the current shortage.
The exceptionally warm and dry summer has resulted in a substantial shortage in the hydrological balance (i.e. the combined amount of water from reservoirs, snow in the mountains, ground and soil water). In addition, there has been an increase in the production cost for electricity due to higher prices of coal, gas, and CO2. These two factors have resulted in high electricity prices, which are around twice the prices seen during the same period last year.
At the start of 2018, reservoir levels were measured at 69.7%, which corresponded to normal levels. However, a prolonged period of cold weather resulted in high electricity consumption during Q1. At the beginning of Q2, reservoir leve...