Southern Norway (NO1, NO2, NO5): Steep increase in reservoir levels in Southern Norway on high precipitation levels the last weeks. Precipitation levels for the next week are dry before returning to about normal levels next weekend, meaning the sharp increase in reservoir levels is not likely to persist. Prices for the fall and winter expected in the range 60–81 €/MWh for the price zones (Oct–Jan).
Northern Norway (NO3, NO4): reservoirs still far above normal, prices deeply discounted for the fall and winter at 11–48 €/MWh (Oct–Jan). Precipitation levels are expected below normal for the next two weeks, and we could see a slight decline in reservoir filling levels.
Looking ahead, the split persists: transmission bottlenecks between the North and South of Norway keeping the South priced closer to Continental Europe on lower than normal hydrological conditions in NO2. With a large hydrological surplus in the North, prices remains stuck at low levels.
Historical data from Norges vassdrags- og energidirektorat
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