No.74/2006 Voluntary agreements for reduction in power consumption made by Statnett

Nord Pool Spot AS has received the following message from Statnett:

In September Statnett entered into agreements with 8 companies for the right to reduce these companies power consumption up to 370 MW or in total 765 GWh (Exchange Information 48/2006).

The purpose of this voluntary arrangement is to reduce the risk for rationing by giving Statnett the right to reduce larger companies' consumption of power. It has not been possible for Statnett to establish power reserves for this winter and we still experience regional vulnerability.  Statnett has therefore made agreements with two additional companies.  The total volume is now at 890 GWh.

These Energy Option Agreements will not be exercised unless the likelihood for rationing is considered to be more than 50% and that The Norwegian Water Resources and Energy Directorate has approved this as an acceptable measure.  Thus, the threshold for exercising these options is high.

Lysaker, 7 December 2006 

For further information, please contact Statnett:

Knut Lockert, Head of public affairs, Mobile: +47 911 87 713