Reservoir levels in southern Norway’s NO2 price zone have fallen to 15.6 TWh, below the previous 1996 low of 15.7 TWh, the Norwegian Water Resources and Energy Directorate (NVE) said. Norway, one of Europe's largest electricity exporters, relies on large hydropower capacity to balance wind and solar shortfalls; lower reservoirs weaken that buffer and raise the risk of higher power prices and increased gas dependence. Katinka Bogaard, general manager at Oslo-based Volt Power Analytics, said there

Reservoir levels in southern Norway’s NO2 price zone have fallen to 15.6 TWh, below the previous 1996 low of 15.7 TWh, the Norwegian Water Resources and Energy Directorate (NVE) said. Norway, one of Europe's largest electricity exporters, relies on large hydropower capacity to balance wind and solar shortfalls; lower reservoirs weaken that buffer and raise the risk of higher power prices and increased gas dependence. Katinka Bogaard, general manager at Oslo-based Volt Power Analytics, said there is significant upside risk to power prices that may persist through the winter and into spring.