Norway risks “pressed” electricity market in winter of 2023, Statnett says

div classBodysc17zpet90 cdBBJodivpOSLO Reuters – Norwegian electricity grid operator Statnett said on Tuesday the Nordic country risks a “pressed” security of supply in the southern half of the country under certain circumstances towards and through the winter of 2023.p

pA pressed market is the second level on a fivestep scale applied by Statnett, where the first level is a normal market situation and the fifth is power rationing.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pNorway‘s hydro reservoirs, which provide some 90 of the country’s domestic power output, are currently only 23.3 full, compared with a median level of 37.5 at this time of year for the period 20022021, according to data from regulator NVE. p

pIf precipitation is lower than normal in the coming months, and the winter turns out to be cold and dry, Norway would need considerable power imports to meet its needs, Statnett said.p

pIn the event of outages on interconnector power cables, or the war in Ukraine leading to gas shortages and power rationing in other parts of Europe, such imports could become unavailable, it added.p

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pp Reporting by Terje Solsvik and Nora Buli, editing by Gwladys Fouchep

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