Lysaker, 24 June 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): High precipitation, but less influx than normal During week 25, the precipitation was high all over the country. Little remaining snow and preceding dry weather, led to the Norwegian water reservoirs being lower than normal. The Norwegian hydro reservoir levels rose 2.6 percentage points throughout week 25. At the beginning of week 26, the reservoir capacity was 55.2 per cent. In Sweden, the hydro reservoir level is now 48.8 per cent, after an increase of 2.4 percentage points through week 25. The Nordic power consumption changed almost nothing from week 24 to week 25, while the Danish power consumption increased heavily. At the same time, the Nordic countries' total imports of power dropped. Maintenance of the grid network towards Poland and higher prices in Germany contributed to lower Nordic imports and increased Nordic production. Nevertheless, the Nordic net import in week 25 was twice as high as the corresponding week last year. The Norwegian net import was 58 GWh in week 25. The average spot price was 268 NOK/MWh in week 25. In comparison, last Monday a price of 307 NOK/MWh for a financial power contract for the fourth quarter this year (FWV2-04) was registered. Because the price for the fourth quarter exceeds today's price considerably, it seems profitable to store water for later usage. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353