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4 FAQs about [Oslo energy storage price difference]
Why are Norway's electricity prices so low?
There are still significant price variations between the different price areas of Norway, particular between the price area in South-West Norway and the rest of southern Norway in third quarter. Lower electricity prices in the Nordic spot market are related to developments on the European continent.
Does Norway export electricity at night?
These differences mean that Norway can import electricity from abroad at night, when the price is lower, and export it during the day, when consumption and prices are higher. Over the year, Norwegian electricity exports are normally highest in the summer, when reservoir inflow is high and Norwegian consumption is low.
Why does Norway have a flat daily price profile?
The Norwegian power system has a relatively flat daily price profile because it does not cost much to regulate production up and down. In thermal power systems, it is costly to regulate production, and there is wider variation in electricity prices during the course of a day.
Does Norway have a power market?
Today, Norway is part of a joint Nordic power market with Sweden, Denmark and Finland, and this is in turn integrated into the European power market through interconnectors to Germany, the Netherlands, Estonia, Poland and Russia. Because of these interconnectors, power can be consumed where it is most needed.