Norway’s TSO Statnett has forecast its power consumption to increase by 20 TWh/yr until 2029 – lower than previously assumed -, with power prices in southern and central Norway averaging €50-55/MWh and €25-40/MWh, respectively, in 2029, it said.

• Power consumption is lower by around 5 TWh/yr than previous forecasts amid project delays in hydrogen and battery manufacturing.
• This compares to its previous forecast for prices in southern Norway at between €65-70/MWh, according to Montel.  Prices in Central have been mostly unchanged from previous analysis.
• Lower prices in the EU and the UK are expected to offset the price effect of a weaker energy balance in Norway in the coming years, it added.
• The surplus Norwegian energy balance is expected at 3TWh in 2029.