Lysaker, 13 June 2007 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Warm weather and decreased electricity consumption Both the Nordic and the Norwegian electricity consumption fell from week 22 to week 23. In Norway the reduction was 8 percent. So far this year the consumption in Norway has been 2 percent lower than in the corresponding period last year, due to a mild winter. Given equally temperatures the consumption would have been at the same level as last year. Low consumption and continued high snowmelt contributed to low electricity prices. At the Nordic power exchange Nord Pool, the price for electricity in the South of Norway was 15.3 øre/kWh in week 23 - a 1.5 øre/kWh drop from previous week. This is the lowest price in five years. In Middle- and North Norway the price dropped with 1.0 øre/kWh to 18,1 øre/kWh. In the last 14 weeks the price has been below 20 øre/kWh. For the approaching winter the electricity is traded for approximately 40 øre/kWh at Nord Pool. The price drop at the exchange also makes an impact for the household consumers. A spot related contract with a 1.9 øre/kWh mark up gave a price of 21.0 øre/kWh (incl. VAT) in week 23. During week 23 the reservoir levels increased with 7.2 percentage point to 61.6 percent. Compared to a normal year the level this year is 11.5 percentage point higher. The content in Sweden is 63.0 percent after a 6.1 percentage point increase during week 23. ------------------------------- 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