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ELECTRICITY
The Norwegian grid operator, Statnett has said the government should not restrict electricity exports because it may make it hard to get the imports it may require this winter.
- They said restrictions could lead to similar measures being imposed by other countries, limiting the ability to import power from abroad when needed.
- Hydropower makes up 90% of Norwegian electricity production but the country has faced the driest 12-month period in 26 years leaving reservoirs severely depleted ahead of winter.
- "We have said several times that we can get to a situation where we might be reliant on imports this winter," Statnett said.
- Statnett is in discussions to cut industry consumption where necessary while a gas power station in Mongstad, slated for decommission, may have its operation extended.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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