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In Norway, where hydro powers most of the country's energy demands, consumer energy prices are now around 100-130% above July-August rates. The explanation is a
by atombender 5y ago
In Norway, where hydro powers most of the country's energy demands, consumer energy prices are now around 100-130% above July-August rates. The explanation is apparently partly milder weather, with less rainfall and less wind. The other part of the explanation is that Norway is connected to the continental grid, and is affected by higher rates in Europe.
- matsemann 5y agoWonder if Einar Aas could have predicted it. He was top on the income lists every year (they are public in Norway). From trading electricity futures, he was seemingly very very good at it for years. But suddenly a big swing wiped out his entire fortune with a margin call. Almost bankrupting the Nasdaq insurance fund in the process. https://news.ycombinator.com/item?id=17997823 https://news.ycombinator.com/item?id=17997823 It was argued much recently that connecting us with the rest of Europe through ACER would increase the prices since other markets would pay more. But that it would also lead to higher profits for those delivering the fixed costs part of the power bill, thus that part should be cheaper and it was supposed to even out somewhat.. ?