Lysaker, 22 September 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Heavy Rainfall and High Inflow to the Hydropower Reservoirs In week 38 the inflow to the Norwegian hydropower reservoirs was 50 per cent above normal. A total inflow of 3.8 TWh resulted in an increased reservoir filling of 2.4 percentage points. As of Monday 20th of September, the level in Norwegian hydropower reservoirs was 75.4 per cent. During the four last weeks, the effective inflow has been 12.1 TWh, which is approximately 2.8 TWh above normal for this period. The inflow for next week is also expected to be above normal. In Sweden, the reservoir level is now 76.1 per cent, following an increase of 1.7 percentage points during week 38. The Norwegian electricity usage increased by approximately 0.1 TWh from week 37 to 38. Increased production from Norwegian hydropower producers supplied some of this increase. Further, favourable wind conditions on Jutland have led to higher imports from Denmark. Heavy rainfall has resulted in unregulated production during week 38. Combined with lots of wind power production on Jutland and high thermal production in Sweden and Finland, this has resulted in reduced prices in the Nordic electricity market from week 37. Also the financial market has experienced falling prices during the last few weeks. Last Monday, electricity contracts for the period October-December were traded for 263 NOK/MWh. Four weeks earlier, the price for the same contract was 291 NOK/MWh. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353