Electricity, August 2002

The producers of electric energy maintained the high production in August even though the consumption was low and the rainfall was small. The rainfall was in average 70 per cent of the normal level. The export from January to August was 11 119 GWh. This is twice as much as the average for the same period the last ten years, and close to the high export level of the very rainy year 2000. That year the export amounted to 20 529 GWh in the end of the year. In the same period last year the water reservoirs levels were below the median, and the power plants chose a low production until the water reservoirs levels were at the median. This year the producers have chosen a high production, and the water reservoirs are now below the median. Since the prices of electricity highly follow the level in the water reservoirs, this will lead to higher prices. So far this year the production was 84 748 GWh, which is 8.4 per cent more than for the corresponding period last year. The production of 9 727 GWh in August is 23.3 per cent more than for the same month last year, and is the second highest production recorded for this month. The export of 2 298 GWh, which was 23.6 per cent of the production, is valued to NOK 345 million. The average price was 15 øre/kWh. When producers choose a high production today they take into consideration, among other factors, the prices they can obtain in the spot market and different contracts today, and expected prices and rainfall tomorrow.

Consumption down

The consumption has been low so far this year. August was no exception, and was the eighth month in a row with lower consumption compared with the same months last year. The gross consumption in August was 7 496 GWh. This is down 6.5 per cent compared with the same month last year. The consumption in power intensive industry went down by 9.5 per cent, and can be explained with lower activity in this business. The consumption for the other sectors went down by 5 per cent, and this consumption varies more with the temperature. The average temperature was 3.5 degrees above the normal, and is the highest recorded since the Weather bureau started the registration in 1866. In August last year the temperature was also above the normal. The consumption has fallen by 7.3 per cent so far this year.

See also

Reservoir level

Prices of electric energy

Tables:

• Table 1 Production, import, export and consumption of electric energy. GWh. Preliminary figures