Lysaker, 28 May 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): There was a high Norwegian net import of power to Norway during week 21. Stable import from Sweden and increased import from Denmark led to a total Norwegian net import of 383 GWh. The power production in Norway and Sweden fell with 0.5 TWh from week 20 to week 21. The price trends for the autumn make it profitable for the hydropower producers to economize on the water for later production. Also in Sweden, the production is reduced as a consequence of yearly maintenance of nuclear power plants. Increased Danish wind power production and increased import from Germany and Poland have compensated for lower production in Norway and Sweden. In addition, the Norwegian consumption dropped due to the holidays. Colder weather and plenty precipitation have contributed to stabiliz ing the snow reservoirs in the high mountains in week 21. The influx to the Norwegian water reservoirs was in despite of plenty precipitation less than normal for the week due to the reduced snow melting. Norwegian hydro stocks rose 2.5 percentage points throughout the week to 46.9 per cent at the beginning of week 22. In Sweden, the reservoir content is now 40.1 per cent, after an increase of 3 percentage points during the week. Several power suppliers yield higher prices on a standard variable price contract from week 24. For households with this type of contract an average price of 0.336 NOK/kWh in week 24. That is an increase of 0.008 NOK/kWh from the notified price in week 23. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353