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Monday, July 22, 2024

Some good news about electricity

High electricity rates have prompted Norwegians to cut their consumption by as much as 15 percent so far this year, and then electricity rates started falling. Now they’re going up again, but there are still some bright spots.

After setting another new record for consumption in 2021, Norwegians with their electric cars, heated driveways, hot tubs on the terrace and holiday homes have actually managed to cut back. State power producer Statnett could report monthly consumption had declined 15.2 percent as of mid-September.

Then it finally started raining and that helped fill reservoirs in the mountains for Norway’s hydroelectric power. The wind started blowing, too, also in Europe, and that generated more power from wind turbines. Few have complained about the autumn storms so far that have, as one analyst put it, “helped improve the energy balance.”

After several days last week with the lowest electricity rates in many months, though, they’ve been climbing again this week. Wind power prices have remained high, notes Rystad Energy, and there’s been more demand as the days get short and thermometers fall.

There’s still some other good news: Statnett reports there’s no longer much fear of electricity rationing this winter, more renewable energy will be coming on line, producers are saving the power they’re generating and more rain is in the forecast. staff



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