Lysaker, 17 January 2007 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): Approacing normal reservoir levels During week 2 the level in the Norwegian hydro reservoirs dropped off with only 0.7 percentage points to 65.3 percent. The average reservoir level at the end of week 2 is 66.8 percent. In the Middle-Norway the reservoir level is identical to the corresponding week last year. On a national scale the reservoir level is the same as in mid-November 2006. By way of comparison the reservoir levels fell with 17 TWh (20.9 percentage points) between mid-November 2005 and week 2, 2006. This corresponds to 14 percent of the total electricity consumption in Norway in 2006. The electricity production in Norway increased with nine percent from week 1 to week 2. Despite also an increased consumption, the production and consumption level in Norway has not been this low since 1998. During the previous eighteen weeks there has been a net import to Norway of 3.4 TWh. In the corresponding period one year earlier there was a net export of 5.1 TWh. Declining prices at the Nordic Power Exchange has contributed to falling prices also for the households. In week 2 a spot price contract with a 2.2 øre/kWh mark-up, would have given a price of 29.0 øre/kWh. The spot price contract has dropped with 63 percent since the start of September 2006. ------------------------------- 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 22 5 9274