Lysaker, 23 May 2007 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Reduced electricity consumption and lower prices in the Nordic Region The electricity consumption in Norway fell with 4 percent from week 19 to week 20. Milder weather and National Day in Norway/Ascension Day on 17 May contributed to the reduced consumption. Hitherto this year the aggregated Nordic electricity consumption has been 165.3 TWh. That is a 3 percent drop from the corresponding period last year. The main explanation to the reduction is a milder winter than the one experienced in 2006. Corrected for temperatures the Norwegian electricity consumption so far this year has dropped with 1 percent from last year. The decrease in consumption in week 20 has been conducive for the downswing in electricity prices at the Nordic power exchange. In Southern Norway prices fell with 0.3 øre/kWh and in Middle and North Norway with 0.6 øre/kWh. The prices in Norway were equal in week 20 with 17.2 øre/kWh. A spot price in Norway with a 1.9 øre/kWh mark-up, gave an electricity price to end consumers of 23.3 øre/kWh (incl. VAT) in week 20. That is a 0.5 øre/kWh reduction from the previous week. The reservoir level in Norway was 44.7 percent at the end of week 20. Compared to last week that is a 1.9 percentage point increase. The level is now 5.5 percentage points above normal. The reservoir level in Sweden increased with 6.9 percentage points to 43.7 percent. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit L. Fossdal, NVE, phone: +47 2295 9353 Tor Arnt Johnsen, NVE, phone: +47 9302 4238 Nils Spjeldnæs, NVE, phone: +47 2295 9274