Norway: Negative electricity price on 21 May

According to figures from the Nord Pool power exchange, the electricity price was negative for the whole of Norway between 11 and 17 on 21 May 2023. This means that Norwegian electricity users got ''paid'' for their electricity use, excluding grid tariffs and taxes such as VAT and mark-ups to the power companies. As a whole, the average price in the price areas Oslo was NOK 0.35 (EUR 0.03 USD 0.03), in Kristiansand NOK 0.355, in the northern part of Western Norway (Nordvestlandet) NOK 0.35, and in mid-Norway and Northern Norway NOK 1.03. These were the lowest electricity prices registered in Norway so far in 2023. The negative prices in certain hours are mainly due to low consumption of electricity in combination with high production.