Energy Market

"Norway Pushed Up Electricity Prices"

Updated 5:29 PM

The Swedish Energy Markets Inspectorate says its reports do not support allegations made by two researchers Friday that a Norwegian energy company deliberately caused the record high electricity prices in Sweden last winter,

Writing in the newspaper “Dagens Nyheter”, the two economists from the Research Institute of Industrial Economics say Norway’s Statnett deliberately created bottlenecks in the network to slow down the transfer of electricity between Norway and Sweden.

For a few hours in December last year, the price of electricity in Sweden was running at 1.50 US dollars per kilowatt hour, while in southern Norway it was as little as 6 cents. The researchers based their claims on reports from the Energy Markets Inspectorate.

But in a press release Friday, the inspectorate says it rejects the claim the Norwegian company deliberately manipulated the market, and says there is nothing in its report to support that conclusion.