Lysaker, 06 May 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): The Norwegian net import during week 18 was more than 500 GWh. The net import to Norway has not been higher since the same week last year. Lower prices on the German market have also led to an increased Nordic net import as of week 17. Together with an increased production surplus in Sweden this has contributed to increased Norwegian import from Sweden and Denmark. As a result of more supply and lower demand of electrical power, the Norwegian spot prices dropped from week 17 to week 18. Parts of the increased supply in the Nordic countries are due to unregulated hydropower production, while mild weather throughout week 18 has led to lower demand. The reservoir content in Norwegian water reservoirs increased with 2.9 percent through week 18 and ended on 30.5 percent on Monday 3 May. The influx of power to the reservoirs during week 18 was approximately 4 TWh. This is about 60 percent more than normal and was largely due to mild weather and snow melting. In Sweden, the reservoir content ended up at 19.6 percent after an increase of 4.2 percent throughout week 18. In the end consumer market, lower prices are also expected for the coming weeks. As of week 19 to 21, the average standard variable power contract will decrease with 0.011 NOK/kWh to 0.332 NOK/kWh. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353