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ELECTRICITY
Norwegian hydropower stocks fell for the third consecutive week to 82.1% of capacity as of 8 November, further narrowing the surplus to the five-year average, NVE data showed.
- Stocks declined by 1.5 percentage points last week, compared with a decrease of 2.5 points the week prior.
- The surplus to the five-year average narrowed to 1.37 points, down from 2.9 points the week before and the lowest level since early July.
- Hydropower output in Norway decreased last week with output from reservoirs at 11.59GW, down from 14.81GW the week before. Onshore wind output rose by 1.16GW on the week to 2.47GW, Entso-E data showed.
- Forecasts for the hydro-intensive region of Vestland show minimal precipitation for the remainder of this week, which is likely to fall in the form of snow due to temperatures below zero, limiting inflows into reserves.
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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