Lysaker, 8 December 2004 Nord Pool has received the following informatio n from the Norwegian Water Resources and Energy Directorate (NVE): The effective inflow of water to the Norwegian hydropower reservoirs during week 49 was 1.5 TWh, or 30 percent above normal. The Norwegian reservoirs had a filling level of 75.0 percent on Monday 6th of December. This is a reduction of 1.4 percentage points from last week. The filling level is now 3.1 percentage points below normal, and 14.4 percentage points higher than the same week last year. In Sweden, the reservoir filling level is now 73.3 percent, after a decrease of 2.2 percentage points during week 49. Expectations of milder weather and high inflow of water to the reservoirs contributed to the prices in the financial market falling considerably during the week. As an example, the prices on the contract for delivery in February 2005 ended at 239 NOK/MWh Monday, which is a reduction of 20 NOK/MWh since Monday in week 49. During the last six weeks, the price on this contract has fallen by 48 NOK/MWh, or 17 percent. The prices to consumers were reduced also in week 49. The price reductions in the financial market contributed to the average price for one year fixed price contracts falling by 0.011 NOK/kWh from week 49, ending at 0.333 NOK/kWh on Monday in week 50. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353