Lysaker, 11 March 2004
Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE):
The reservoir content is now 7 percentage points higher than the same time last year
As of Monday 8 March, the Norwegian hydropower reservoir level was 33.5 per cent. During week 10, the reservoir content dropped with 2.6 percentage points. Compared with last year's figures, the reservoir level is now 7 per cent higher, while the reservoir content is 14.8 percentage points lower than the median value. The level in the Swedish water reservoirs is now 21.1 per cent after a hydropower reservoir tapping of 2.9 percentage points through week 10.
The average spot price in Germany was 311 NOK/MWh in week 10. That is an increase of NOK 47 from week 9, and the price in Germany was therefore 63 NOK/MWh higher than the Nordic system price in week 10. During week 10, the net export from the Nordic countries to Germany was 134 GWh. Thus, the Nordic net export to Germany has not increased substantially from last week. This is due to German prices being low at night, which has resulted in imports to the Nordic countries with less price variation over the day than Germany. Norwegian net import fell 22 GWh to 113 GWh in week 10.
For household customers with a standard variable contract the power price fall is continues weak. In week 13, the average price for this type of contract yields a price of 0.335 NOK/kWh (incl. VAT). Customers with a market contract directly linked to the spot price had in week 10 an average price of 0.336 NOK/kWh (incl. VAT) assuming a mark-up of 0.025 NOK/kWh. The average price the corresponding week for customers with a standard variable contract was 0.345 NOK/kWh.
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Contact person at the Norwegian Water Resources and Energy Directorate:
Marit Lundteigen Fossdal, NVE, tel: +47 22 95 93 53