Lysaker, 08 July 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): High precipitation in week 27 Throughout week 27, the precipitation was higher than normal, and also the present week seems to be in high precipitation. The financial power prices for the coming winter are now lower than for the Monday last week. This is probably due to the precipitation situation, and indicates that the expectations on the power prices have been reduced for the coming winter. During week 27, the available influx to the Norwegian hydropower reservoirs was as normal. The level to the Norwegian hydropower reservoirs rose with 3.4 percentage points, and the Norwegian hydro stock last Monday was 61.4 per cent. In Sweden, the reservoir level was 58.7 per cent at the beginning of week 28. This is an increase of 6.4 per cent throughout week 27. Increased Swedish power production has compensated for reduced Finnish power import from Russia last week. The cause for the Finnish power lapse is passing maintenance work. Increased production in Sweden has also contributed to continued Norwegian net import of power in week 27. The Norwegian net import of power was 167 GWh. In the same week last year, there was a Norwegian net export of 89 GWh. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Jon Sagen, NVE, tel: +47 2295 9248