As winter approaches, NO3 (Trondheim region) enters its high-price season with reservoirs still 89,6% full. Despite the new power line to southern Norway (NO5) in late September, prices haven’t climbed as sharply as expected.
Congestion in the grid limits flow
The new power line that went online in October 2025 has not led to materialized increased flow, and physical constraints on both sides continue to limit transmission within the FBMC domain, thereby dampening NO3 prices.
Storms boosted hydro levels
October storms lifted reservoirs in NO3 from 89,4% to over 92%, temporarily pushing prices down before a cold snap returned levels to 89.6%. NO5 also saw strong inflows, increasing price pressure.
Changing price dynamics
Even so, NO3’s average spot price is up ~60% since September, now tracking closer to NO5 than NO4- marking a clear shift in regional price behaviour.
