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Norway’s Hydro Switched to Deficit to 5-Year Average For First Time Since July

ELECTRICITY

Norwegian hydropower reserves declined by 2.6 percentage points last week to 79.5% of capacity as of 15 November, switching to a deficit to the five-year average for the first time since early July, NVE data showed.

  • Stocks switched to a deficit of 1.32 percentage points to the five-year average last week, compared with a surplus of 1.37 points the week before.
  • Norwegian hydropower output increased last week. Output from reservoirs rose by 3.97GW on the week to 15.56GW – the highest level since early March. Onshore wind output fell by 1.07GW last week to 1.41GW, Entso-E data showed.
  • Forecasts suggest little precipitation and temperatures below 0° in the hydro-intensive region of Vestland, limiting inflows into reserves.

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