Wet summer offers major Norwegian hydro towns 2 days of free electricity

Oslo — Electricity was free on Monday in Norway’s two largest cities, according to market data, the bright side of a rainy summer. In Norway, electricity being almost exclusively produced from hydroelectricity, the more it rains or snows, the more the reservoirs fill up and the lower the price of electricity.

A particularly severe summer storm, dubbed “Hans”, which swept through Scandinavia in August, as well as frequent rains this summer, have filled reservoirs in parts of Norway.

As a result, the spot electricity price before taxes and network charges is expected to fluctuate between 0 and -0.3 crowns (-0.03 US cents) in the capital Oslo and the second-largest city, Bergen, on Monday. according to the specialized information site Europower. .

On Nord Pool, Europe’s largest electricity market, wholesale electricity prices in the two cities averaged -1.42 euros per megawatt hour on Monday. A negative price means that power companies pay consumers to use their output.

“Producers (of electricity) have explained in the past that it is better to produce when prices are a bit negative than to take action to stop production,” Europower said.

Even though the spot price was slightly negative in some parts of the country, divided into several price zones, companies can still make money from green electricity certificates.

According to climate experts, global warming leads to more frequent and intense precipitation and snowfall in northern Europe.

Last week, the Norwegian Meteorological Institute said August temperatures in Norway were on average 0.9 degrees Celsius (or just under 2 degrees Fahrenheit) higher than usual, and that after a month of July already rainy, precipitation in August was 45% higher than usual. usual.

“All of these rains, including Hans’s, have an element of climate change in them,” said researcher Anita Verpe Dyrrdal.

A weather station in southern Norway recorded 392.7 millimeters of rain in August, 257% more than usual.

According to Europower, this is the second time that electricity prices have turned negative in parts of Norway. The first time was on August 8, following the “Hans” storm.