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.
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.
The Norwegian electricity network is made up of three main categories: transmission (central), regional and local distribution: Statnett is the only Transmission System Operator (TSO) and is responsible for transmission tariffs.
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.
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. In a normal year, Norwegian power plants produce about 156 TWh (source: Electricity production - Norwegian Energy).
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