How much does the Norwegian emergency energy storage power supply cost

The Ministry of Energy has the overall responsibility for managing the power supply in Norway. The operative responsibility for the maintenance of the power supply is delegated to the Norwegian Water Resources and Energy Directorate (NVE) in accordance with the Energy Act.

The large storage capacity makes it possible to even out production over years, seasons, weeks and days, within the constraints set by the licence and the watercourse itself. Norway has a sound power balance and high power trading capacity, and therefore enjoys high energy security in the power system.

Norway has a sound power balance and high power trading capacity, and therefore enjoys high energy security in the power system. Nevertheless, low water inflow and events outside Norway can make the situation difficult at times. Statnett is responsible for developing measures to deal with highly strained power situations energy situations.

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

And as with other countries such as the UK, Norway wants to position itself as a leader in emerging green technologies such as hydrogen and carbon capture and storage. But Norway is right to be mindful of the impact neighbouring countries' energy policies have on its energy security.

Electricity covers almost half of the country's total final consumption, the highest share among IEA member countries. Norway has tremendous potential to leverage its clean electricity to decarbonise other sectors of the economy through additional electrification.