Wholesale 240v power station in Norway

Power producers, suppliers, industry and other participants buy and sell power in competition with other market participants in the electricity wholesale market. The wholesale market facilitates export from, as well as import to, Norway.

Hydropower accounts for most of the Norwegian power supply, and the resource base for production depends on the precipitation in a given year. This is a significant difference compared to the rest of Europe where security of supply is mainly secured through thermal power plants, with fuels available in the energy markets.

It operates the leading power market in Europe, offering day-ahead and intraday markets for electricity trading across 16 countries. Nord Pool runs the leading power market in Europe, offering day-ahead and intraday markets to our customers.

In a weather-based power system like Norway's, the power situation will vary between different parts of the country, and there is not enough capacity in the power grid to equalise the differences in all situations. Therefore, the grid is divided into five price zones.

Norway's electricity generation is based on almost 100 per cent renewable energy. In 2023, it was based on 89 per cent hydropower and 9 per cent wind power. At the beginning of 2023, the power supply in Norway had a total installed production capacity of 39 703 MW.

Many power plants in Norway have storage reservoirs and production can therefore be adjusted within the constraints set by the licence and the watercourse itself. Wind and solar power are intermittent; electricity can only be generated when the energy is available.