. Electricity prices have been breaking records for several days in a row. Prices fall again on Tuesday, but remain at extremely high levels in southern, central and northern Norway. They show the latest data from the Nord Pool energy exchange. It is worth adding that prices are usually set one day in advance.
Cost of electricity will fall on Tuesday to NOK 1,38 per kilowatt hour in southern Norway, and NOK 1,51 per kilowatt hour in central and northern Norway.
The price is still extremely high, but well below the record high electricity prices in southern Norway of NOK 2,56 per kilowatt hour on Monday. The total price with network rent and fees is approximately NOK 3,74. In central and northern Norway the price on Monday is NOK 2,25 per kilowatt hour.
From 17 p.m. to 18 p.m. on Monday, the price is as much as NOK 4,18 per kilowatt hour in southern Norway. If you add rent and fees for electricity, Norwegian electricity consumers will have to pay approximately NOK 5,75 per kilowatt hour during this one hour.
During this hour, a plentiful shower will cost around 28 crowns, according to the E24 index. In northern Norway, the peak price on Monday is NOK 3,69 per kilowatt hour between 16:00 and 17:00.
Gas prices equally high
Analysts they pointed previously the exorbitantly high gas prices in Europe as the main cause of high electricity prices in the countries around Norway, in addition to the small amount of water in the country's reservoirs. High prices covered the whole of Norway, which is connected to 17 different energy connections from Europe.
It was a demanding period in Europe with sky-high energy prices. There is little gas in Europe, competing with Asia for global loads of liquefied natural gas (LNG), while Russia supplied little gas to all of Europe.
There were dry years in Norway, when there was less water in the reservoirs than usual. If hydropower producers save on water, they will raise their prices because electricity imports from Europe are currently expensive.
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