Electricity, June 2003

Low reservoir levels, no danger for overflow in the reservoirs and anticipated higher prices towards the winter are causes that contributed to the low production. The reservoir levels for the entire country was 47.9 per cent of total capacity in the middle of June. The median, based on the period 1990 - 2000, is 63.7 per cent. Figures from the Norwegian Meteorological institute show that Norway had 90 per cent of normal precipitation in June. The low production contributed to improvement in the reservoir levels compared with the median in June, although the precipitation was less than normal. The increase in the reservoir levels was 17.2 percentage points in June, while the median increased by 12.8 percentage points. The production so far this year has been 52 343 GWh, which is 20.7 per cent less than last year. Net imports have so far this year been 6 457 GWh, while Norway exported 3 410 GWh in the same period last year.

Low consumption

Total consumption was 7 759 GWh in June, which is 2.8 per cent below average for the last 5 years. The need for heating explains some of the variation in the consumption. The temperature was above normal in June, but the temperature's effects on the consumption are larger in the winter months than in the summer months. The consumption in power-intensive manufacturing was 2 486 GWh, which is 0.7 percent less than in June last year. The consumption in power-intensive manufacturing is relatively stable during a year, which makes it a larger part of the total consumption in the summer. The consumption in power-intensive manufacturing came to 32 per cent of total consumption in June, while it came to 21 per cent in January. The total consumption has decreased by 6.1 per cent so far this year compared with the corresponding period last year.

High prices

The average gross price in June was NOK 0.202/KWh against NOK 0.121/KWh in 2002. Last week (4-10 of august) average gross price was NOK 0.29/KWh, while power in the coming winter-trades at NOK 0.3/KWh at Nordic power exchange, Nordpool.

Tables:

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