Lysaker, 4 March 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): The level of the Norwegian hydropower reservoirs was 36.1 per cent as of 1 March. That is a hydropower reservoir tapping of 2.4 percentage points through week 9. The reservoir level is 7.5 percentage points higher than last year's figures, but 14.8 percentage points lower than the median value. The reservoir content in Sweden fell 2.7 percentage points in week 9 to 24 per cent at the beginning of week 10. Colder weather contributed to increased Norwegian and Nordic consumption from week 8 to week 9. Increased prices in the German spot market led to higher Nordic exports to Germany. In total, this led to higher power prices in the Nordic countries, which resulted in Norwegian producers of hydropower producing more than in week 8. The accumulated temperature-corrected total consumption in Norway has during the first eight weeks of 2004 been 23.2 TWh. This is an increase of 1.5 TWh, or 7 percent from the corresponding period last year. The power price for customers with a standard variable contract continues to fall. In week 12 the average price for this type of contract yields a price of 0.336 NOK/kWh. Compared to a spot price contract with a mark-up of 0.025 NOK/kWh, the standard variable contract was 0.023 higher/more expensive than in week 9. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 22 95 93 53