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Analysts say electricity prices in southern Norway could exceed 20 kroner/kWh this winter

Photo: Håkon Mosvold Larsen / NTB

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Electricity prices continue to hit all-time highs. Tor Reier Lilleholt, chief of Volue Insight and his analyst, believes prices this winter could reach 20 Norwegian kroner per kilowatt-hour.

So this week’s NOK 10 price record could double over the winter, Reier Lilleholt told Norwegian Broadcasting (NRK). He stressed that this was an extreme scenario, but added that he stopped believing there was a cap on electricity prices.

“A month ago, NOK 5-6 was very expensive and NOK 10 was unimaginable,” said Lilleholt.

Analysts calculate that electricity prices in southern Norway would have been a quarter lower if the foreign cable from Norway hadn’t been built.

Statnett told NRK that last year’s main findings showed that even without cables, electricity prices were very high.

“While we cannot confirm or deny the results of Volue’s simulations, there is reason to assume that the impact of cables is higher now than in 2021. Currently, it is probably outside most analytical models and Absolutely difficult to do that.I’m sure of anything,” Stannett said.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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https://norwaytoday.info/news/analyst-says-electricity-prices-could-surpass-20-kroner-kwh-in-southern-norway-this-winter/ Analysts say electricity prices in southern Norway could exceed 20 kroner/kWh this winter

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