Lysaker, 29 September 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): The annual maintenance of Swedish nuclear power plants is approaching an end, and in week 39, approximately 90 per cent of the total capacity was producing. This contributed, together with high inflows to a considerable increase in the Swedish electricity production relative to week 38. Increased Swedish production has led to lower power prices, reduced Norwegian hydropower production and increased Norwegian import. Further, the electricity import into the Nordic area is reduced. The inflow of water to the Norwegian hydropower reservoirs during week 39 was 3.9 TWh, which is 50 percent above normal. This has resulted in an increased reservoir filling of 2.6 percentage points. The level in Norwegian hydropower reservoirs is now 78.0 per cent. Compared to last year, this represents an increase of 4.8 percentage points. I Sweden, the reservoir filling is 79.4 per cent, after an increase of 3.3 percentage points during week 39. In the end-user market, electricity suppliers have announced price reductions. The dominating electricity suppliers have announced an average reduction in the standard variable price from 0.374 NOK/kWh in week 41 to 0.360 NOK/kWh in week 42. In comparison, the average price for the same contract for the 15 cheapest suppliers registered on The Competition Authorities' price list is 0.336 NOK/kWh. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353