norway-power-prices

Hourly electricity spot prices for the NO1 bidding zone (Oslo and Eastern Norway). Prices reflect the day-ahead market where power is traded one day before delivery. The market clears around 13:00 CET daily, establishing prices for the next 24 hours. Prices fluctuate based on supply and demand dynamics: hydropower reservoir levels, wind generation, cross-border flows with Sweden/Denmark/Germany, temperature-driven consumption, and industrial demand. Typical daily pattern shows lowest prices during night hours (00:00-06:00) when consumption is minimal, rising through morning peak (07:00-09:00), stable midday levels, and highest prices during evening peak (17:00-19:00) when households consume most power. Winter months generally see higher average prices due to heating demand and reduced hydro inflow. Extreme price spikes occur when generation capacity is tight relative to demand.