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The increased demand (from abroad) causes local prices to increase. It looks like Norway has about 8.5GW of export capacity, vs about 13GW of production. Over
by Symbiote 2y ago
The increased demand (from abroad) causes local prices to increase.
It looks like Norway has about 8.5GW of export capacity, vs about 13GW of production.
Overall, exports significantly outweigh imports, but the times Norway is importing mean lower prices in Norway. The average price for Norwegians will have increased, but the variation in price will have reduced.
- magicalhippo 2y agoKeep in mind it's not as straight forward as that. Almost all of our energy comes from hydro, and hence when "excess" is exported we might be reducing stored energy, causing higher prices later if we don't get expected rainfall. Particularly a couple of years ago we had record low levels of water in our storage lakes, causing very high prices for a long time. Had we not exported energy earlier prices would not have gotten so high. Of course, saving and then having massive rainfall means you could have exported but didn't so yeah. Just saying things are a bit different than say France which gets a lot from nuclear which has very different price dynamics.