Lysaker, 6 July 2005 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): A good hydrological situation has, along with high prices on the continent, have contributed to high Norwegian hydropower production. This has given high Norwegian export during the first six months of 2005. During the last few weeks there has also been reduced Nordic import from Russia due to maintenance of the transmission lines. This loss of import was in week 26 compensated by continued high hydropower production and high Swedish nuclear production. During week 26, approximately 12 percent of the Norwegian electricity production was exported to Sweden and Denmark. The level in the Norwegian reservoirs was 66.0 percent at the end of week 26, after an increase of 4.4 percentage points. The present level is 5.5 percentage points below normal, but 8.0 percentage points higher than in the corresponding week last year. The effective inflow was 5.7 TWh, which is 10 percent more than normal in week 26. In Sweden the reservoir level rose with 3.6 percentage points to 74.1 percent. In the last week the financial contracts for electricity has continued to increase. Expected price in the fourth quarter at the Nordic Electricity Exchange, Nord Pool is now 331 NOK/MWh. That gives an increase of 9 percent during week 26. A considerable growth in prices for CO2 -quotes in addition to dry weather forecasts could have contributed to this development. In the last two weeks the prices on CO2 -quotes have increased with about 50 NOK/ton. The end-price for the discharge permits at 4 July was 227 NOK/ton. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353