According to Terje Aasland, Norway’s Minister of Oil and Energy, the country may restrict electricity exports if water levels in the reservoirs for its hydroelectric power plants continue to be below average.

The minister is quoted by the VG daily as saying: « Exports are regulated correspondingly when the water level (in the hydroelectric reservoirs) dips below the norm for the season or falls to a very low level. »

In light of the EU’s ongoing energy crisis, the government of Norway is reportedly considering regulating electricity rates, according to Prime Minister Jonas Gahr Støre’s statement from last week.

The rise in electricity prices and the situation in Ukraine, according to the Norwegian prime minister, will make this year challenging.

According to Støre, the high cost of electricity continues to be one of the primary issues in the nation. Prices have shattered multi-year records in southern Norway, and there are still concerns about the global economic slowdown brought on by the conflict in Ukraine.

source: vg.com