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Norway's NVE warns of higher summer electricity prices due to low reservoir levels
🇳🇴 Norway /Energy & Infrastructure

Norway's NVE warns of higher summer electricity prices due to low reservoir levels

From Aftenposten · () Norwegian

Translated from Norwegian, summarized and contextualized by DistantNews.

At a glance

News Official statement Context piece
  • Norway's NVE forecasts higher electricity prices this summer due to a cold winter, low snowpack, and reduced water levels in reservoirs.
  • Despite concerns, NVE assures there is no risk of power shortages for the upcoming winter, as autumn rainfall typically replenishes reservoirs.
  • European energy prices are influenced by factors like gas prices and weather, but Norway's renewable energy expansion and stable nuclear power have mitigated some price increases.

Norway's National Institute for Water Resources and Energy (NVE) anticipates higher electricity prices this summer compared to usual. This forecast stems from a combination of a cold winter with high energy consumption and a record low snowpack, resulting in lower water levels in reservoirs than seen in 30 years.

Inga Norberg, director of the energy and concessions department at NVE, stated in a press release that "we must be prepared for power prices this summer to be higher than we are used to." She added that gas prices and European weather patterns will also influence Norwegian electricity costs in the coming months. Water levels in reservoirs are currently lower than the historical average for central and southern Norway.

We must be prepared for power prices this summer to be higher than we are used to.

— Inga NorbergDirector of energy and concessions at NVE, explaining the forecast for summer electricity prices.

Despite the current situation, NVE is confident about the energy supply for the upcoming winter. "We are not worried about energy scarcity for the winter, but we are monitoring the situation closely. The large amounts of precipitation that can help increase reservoir levels typically come in the autumn," Norberg explained. During summer months, continental Europe typically sees less wind power production and more solar power, leading Norway to import significant amounts of electricity during the day and export at night. Norway is usually a net exporter of power during the summer.

NVE noted that while electricity prices have been higher than normal, they remain considerably lower than during the energy crisis of 2022-2023. Despite increased gas prices due to the conflict in the Middle East, European power prices in early 2026 have been similar to the same period last year. Factors such as increased renewable energy production, reliable nuclear power availability, and milder temperatures have helped limit the impact of rising gas prices.

We are not worried about energy scarcity for the winter, but we are monitoring the situation closely.

— Inga NorbergReassuring the public about energy supply security for the upcoming winter.
DistantNews Editorial

Originally published by Aftenposten in Norwegian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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