Reservoirs full, electricity rates fall

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The heavy rains of the past several weeks have spoiled holidays and caused flooding, but they’ve had at least one positive side-effect. Reservoirs in the mountains of southern Norway are now full, and electricity rates have dropped.

After reaching record-high levels last winter, Norwegians are now paying among the lowest electricity rates in the Nordic countries, reports newspaper Aftenposten.

New figures from Nord Pool show that rates have fallen from nearly NOK 700 per megawatt hour in December to NOK 318 in early July.

There’s no guarantee the relatively low rates will continue, though. Reservoir levels, on average 80 percent of capacity, are only considered “normal” again even after most all the snow in the mountains has melted. So if the rain doesn’t continue to fall, the reservoirs will recede and rates can go back up.

Views and News staff