Energy prices: Norway thinking of limiting electricity exports

Energy prices: Norway thinking of limiting electricity exports
Credit: Belga

Norway is studying the possibility of limiting electricity exports due to soaring energy prices and increasing fears of shortages.

Due to the declining gas supply from Russia, there is currently strong international demand for electricity from Norwegian hydropower plants.

The Scandinavian country is one of the largest electricity exporters in Europe. Thanks to its numerous hydropower stations, Norway usually produces much more electricity than it consumes, but with rising prices and low water levels in its reservoirs, there have been calls to limit power exports in recent months.

The government could therefore propose to limit exports if the levels in water reservoirs drop sharply, Energy Minister Terje Aasland told local media NTB Newswire.

The sharp rise in electricity and gas prices is putting European solidarity in terms of energy supply to the test. Hungary, which has declared a state of energy emergency, is already trying to ban exports.

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