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(Scanpix)

Price of electricity on the rise

The price of power is on the rise again and it rose to a record high for the first time in two months Monday. The dry weather is to blame.

The so-called system price noted on the power exchange Monday was NOK 0.284 per kilowatt-hour (kWh). This is the highest recorded price since August 15.

Even if the fear for a new power crisis has subsided, the market still reacts when it does not rain.

“Dry and cold”

“It is mainly due to metrological conditions. It has been cold and dry the last week, in addition a temperature three degrees Celsius lower than normal is expected in the days to come,” said Hartvig Munthe Kass, head of information at Nord Pool, to TV 2 Nettavisen.

At the same time as there is a decrease in precipitation, the situation in the Nordic region is made worse by the fact that several of the Swedish nuclear power stations have not been started up again after reparation work.

The price on electricity is expected to in average to be NOK 0.30 through in October and November. However, last week the prediction was NOK 0.27, and the price is expected to be NOK 0.34 kWh from January to April.

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