Lysaker, 22 March 2006 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): In the last four weeks there has been a 9 TWh precipitation deficit, and hitherto 2006 the precipitation deficit has been 12 TWh. Consequently the accumulated snow is less than normal. Hence, the inflow from forthcoming snowmelt is assumed to be lower than usual. The spot price of electricity has increased from about 0.30 NOK/kWh at the start of the year to 0.42 NOK/MWh in week 11, mainly due to limited precipitation. There has been a corresponding price increase for future delivery in the financial market. The price to end-consumers has also soared. The Norwegian power production has been high so far in 2006. However, there was a considerable reduction from week 10 to week 11. The net electricity export has also fallen over the last weeks, and in week 11 there was a Norwegian electricity import in many of the off-peak periods. In these periods there has also been a flow from Germany to the Nordic countries. Despite reduced production, the reservoir level in Norway dropped from 45.2 percent at the end of week 10, to 41.8 at the end of week 11. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353