– What we see is that with an increase in the level of rainfall, the energy balance improves, says senior analyst Lene Hagen of Volue Insight for TV 2.
In the future, it appears that the weather may lift the pressure on what has been a very tight electricity market. Recently, electricity prices have fallen. The reason is, among other things, a lot of rain and wind, but also sunshine in the Nordic countries and the rest of Europe.
– Expectations for the next two weeks are very positive compared to the situation a month ago, says Hagen.
In addition to more water in Norway, there has been a lot of wind elsewhere. This is good for the energy situation in Norway, according to the Norwegian Directorate of Water and Energy Resources (NVE).
– When there is a lot of wind in Northern Europe, there is generally less need for Norwegian hydroelectric power generation, says consultant Ingvild Vestre Sem of NVE.
It’s good for the supply situation because more water can therefore be saved that can be used to produce electricity for the winter, says Sem, who at the same time warns against thinking that the electricity market has stabilized.
– Europe depends on fossil energy sources to meet energy demand. Rising coal and gas prices lead to higher electricity prices. Prices in southern Norway are influenced by prices on the continent through foreign connections, she says.
