Lysaker, 14 January 2004 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Increased Norwegian production and lower influx than normal led to a drop in the level of the Norwegian water reservoirs with 2.3 percentage points through week 2. As of Monday 12 January, the level in the Norwegian water reservoirs is 52.7 per cent full. In Sweden, the hydropower levels are 43.9 per cent full, after a decrease of 2.5 percentage points in week 2. The Nordic consumption increased with 191 GWh from week 1 to week 2. Increased consumption and higher prices in Germany have inverted the power flow between Germany and the Nordic countries from a Nordic net import in week 1 (53 GWh) to a net export in week 2 (87 GWh). The increased Nordic export to Germany has led a drop in Danish and Swedish export to Norway. The prices in the spot market and the financial market continue to decline. This has again resulted in price decrease alerts for households. In week 5, the power price to end consumers with standard variable contracts is notified to be 0.392 NOK/kWh. A market contract with an average spot price of 0.25 NOK/kWh and a mark-up of 0.025 NOK/kWh yields a price of 0.341 NOK/kWh to the end-user. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353