Lysaker, 10 January 2007 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Declining prices The average price in the Nordic electricity market was 24.8 øre/kWh in the first week of 2007. This is the lowest quoted price since week 46, 2005. In the last 19 weeks the average price has dropped with 60 percent. Heavy precipitation and inflow have together with falling fuel prices and costs to CO2 quotas contributed to the price decline. In addition mild weather has dampened the electricity consumption in the Nordic region. The electricity import to Norway continues, despite an improved resource situation. 11 percent of the Norwegian consumption was imported in week 1. TThe inflow to the Norwegian reservoirs was almost twice as high as normal in week 1. At the same time the electricity production has been relatively low. Hence the reservoir level fall-off was only 1.0 percentage points. The reservoir level is now 66.0 percent and 3.8 percentage points below normal. The Est-link cable between Estonia and Finland was taken into operation in week 1. So far the cable has only been used to Nordic imports. ------------------------------- 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