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Norwegian Hydro Stocks Widen Deficit to 5-Year Average

ELECTRICITY

Norwegian hydropower reserves fell by 3.6 percentage points last week to 70.3% of capacity as of 6 December, widening the deficit to the five-year average to the highest level since mid-May, NVE data showed.

  • Stocks widened the deficit to the five-year average to 5.64 percentage points, compared with 4.45 points a week earlier.
  • Nowegian hydropower output increased sharply week on week. Output from hydro reservoirs rose by 3.04GW on the week to 17.71GW. Onshore wind output declined by 547MW on the week to 141GW, Entso-E data showed.
  • Latest weather forecasts for the hydro-intensive region of Vestland suggest snowfall for the most of this week. Freezing temperatures are likely to limit inflows into reserves.

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