Lysaker, 26 January 2006 Nord Pool has received the following information from the Norwegian Water Resources and Energy Directorate (NVE): The electricity consumption has never been as high as it was in week 3. Cold weather, especially in Finland, resulted in high consumption and increased prices. At the Nordic Electricity Exchange, Nord Pool, the average electricity price in Finland in week 3 was 0.471 NOK/kWh. This is an increase of 0.18 NOK/kWh compared to previous week. Also in the other Nordic countries there was a price increase. The Middle- and North of Norway had the same prices as in Sweden, and an increase from week 2 with 0.07 NOK/kWh. Less coldness in South Norway and limiting export capacities reduced the price increase to 0.03 NOK/kWh, in this area. The price increase contributed to a record high Norwegian production, and in week 3 the total amount produced was 3.5 billion kWh. This is for instance more than the yearly production from the under construction gas-power plant at Kårstø in Rogaland. Normally swift consumption increases in the Nordic system will be met by increased hydro-power production, as these production units are very flexible with low start-up costs. The production from thermal units also increased throughout the Nordic region in week 3. Nevertheless the Norwegian exports nearly doubled from week 2. The reservoir level in the Norwegian dropped with 3.1 percentage points to 68.3 percent during week 3. This is 0.8 percentage points above the level in this week last year and 3.2 percentage points more than normal. The accumulated snow is well below normal. At the start of 2005 the accumulated snow was well above normal. A more normal situation this ye, has together with increased prices for fuel and CO2 -allowances resulted in higher prices. ------------------------------- Contact person at the Norwegian Water Resources and Energy Directorate: Marit Lundteigen Fossdal, NVE, tel: +47 2295 9353