Roles and market participants

The Norwegian power market is no longer "solely" Norwegian. We have had a common Scandinavian market for buying and selling electricity since 1996. At the turn of the millennium, all of Scandinavia became a single market, with daily trading of spot and forward contracts over the Scandinavian power exchange Nord Pool in Oslo.

The power situation

See Statnett’s assessment of the power situation in different areas in Norway during this season. The assessment is based on statistical data concerning the inflow to the reservoirs within the various regions, reservoir levels, anticipated consumption and import capacity.

Production and consumption in Norway

Electricity cannot be stored. There must always be a balance between production and consumption. See what the production and consumption of electrical power was like in Norway, week by week, back to 2001.

The balancing power market

There must always be a balance between the supply and consumption of electrical power.  In the balancing  power market, the participants bid a price to alter production or consumption.  This is used when any imbalances arise in the power system.

When there is a balance between the supply and the consumption of electrical power, the frequency of the voltage in the Nordic power system is 50.00 Hz.

Market functions

Power cannot be stored. It must be generated at the same time it is used. This physical fact means that the free power market has certain challenges and schemes that differentiate it from the sale of goods that we can see and touch.