This is an archived release.
All time high production and consumption
The production of power totalled 10,354 GWh in July; the highest production figure ever recorded for this month. Gross consumption of electricity also amounted to an all time high.
The gross consumption (total production less net export) amounted to 8,395 GWh in July. The production of power in July was 29.4 per cent higher than in the corresponding month last year and 12.6 per cent more than in July 2005. A high inflow to the reservoirs and a good filling may have affected the high production. The precipitation for Norway in July was 130 per cent of the normal.
Substantial melting of snow and precipitation increase the filling
The reservoir filling was 73.4 per cent at the beginning of July. Throughout the month, the filling increased by 16.1 percentage points to 89.5 per cent at the end of week 30. The median filling for the corresponding period in the last 15 years is 82.2 per cent. Large volumes of melting snow and precipitation contributed to the high inflow to the reservoirs in July.
All time high electricity consumption
The consumption in energy-intensive manufacturing totalled 2.587 GWh in July; 1.5 per cent less than in the corresponding month last year. Nevertheless the consumption in the category “Gross domestic consumption minus consumption in energy-intensive manufacturing” was 17.9 per cent higher in July compared with the same month last year and the highest level recorded for this month. Households, services and manufacturing other than the energy-intensive account for the majority of this consumption.
High economic activity and low electricity prices
The gross consumption of electricity and “Gross domestic consumption minus consumption in energy-intensive manufacturing” in the last three months are the highest level ever recorded. While the consumption in energy-intensive manufacturing in this period fell by 2.6 per cent compared with an average for 2000-2006, “Gross domestic consumption minus consumption in energy-intensive manufacturing” increased by 9.8 per cent.
In May, June and July the average temperature for Norway was the same as the normal, 1.4°C above the normal and 0.9°C higher than the normal, respectively. Hence, the all time high consumption of electricity must be seen in conjunction with strong growth in the Norwegian economy and low electricity prices. According to quarterly national accounts, the Gross domestic product (GDP) for mainland Norway rose by 1.3 per cent from the first quarter to the second quarter this year. The average elspot system price on the Nordic power exchange Nord Pool was 14.01 øre/KWh in July. This is 64.4 per cent less than in the corresponding month last year and 38.7 per cent less than in July 2005.
High exports of power
Norway’s imports of power totalled 53 GWh in July, while exports came to 2,011 GWh. This gave a net export of 1,958 GWh; the third highest net export figure ever recorded for this month.