Industry leaders sound alarm: "Lack of urgency" on power development threatens Norway's future

Norway's largest energy consumers are sounding the alarm, warning that time is running out for power development in the country. Several executives fear that insufficient electricity supply could halt investments, stifle industrial growth, and lead to job losses.

Industry leaders are calling for rapid political intervention to secure more power and safeguard the future of Norwegian industry. "We see quite challenging times in the crystal ball for power-intensive industry," stated Harald Solberg, head of Norsk Industri, an employer and interest organization for mainland industries in Norway. He and many others are stressed by the situation: the country needs ever more electricity, yet new power generation is barely being developed.

Power-intensive industries in Norway employ 100,000 people and generate 20 billion kroner in annual export value. "There is a risk that this industry will move to other countries. That is our biggest concern," Solberg added. He is most worried that new, power-hungry projects might emerge before enough new capacity can be built. "The math doesn't add up," he said. "We are already behind."

Kari Ekelund Thørud, director of Hydro Energy, echoed these concerns. Hydro, Norway's largest power consumer, produces half its electricity and has long-term contracts for the rest. "When we look into the crystal ball – and it's not that far away – this picture changes drastically," she said. She knows from experience that developing new power sources takes a long time; Hydro took 20 years to decide on a hydropower plant expansion in Sogn. "There will be no industrial growth," she stated, emphasizing the need for more power to realize the country's opportunities. Alcoa, with two aluminum plants in Norway, relies on long-term fixed-price electricity contracts to maintain competitiveness, warning that high market prices could destroy their viability.

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