Electricity prices in Norway 2022
In 2022, the average wholesale day-ahead electricity price in Norway was 1.458 kr /kWh. Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2022
| Month | NOK/MWh | NOK/kWh | MW |
|---|---|---|---|
| January 2022 | 1,038.38 kr | 1.038 kr | 3,705 |
| February 2022 | 867.68 kr | 0.868 kr | 3,729 |
| March 2022 | 1,347.53 kr | 1.348 kr | 3,368 |
| April 2022 | 1,342.46 kr | 1.342 kr | 3,041 |
| May 2022 | 1,139.35 kr | 1.139 kr | 2,648 |
| June 2022 | 1,086.88 kr | 1.087 kr | 2,465 |
| July 2022 | 1,302.36 kr | 1.302 kr | 2,397 |
| August 2022 | 2,571.95 kr | 2.572 kr | 2,419 |
| September 2022 | 2,588.72 kr | 2.589 kr | 2,544 |
| October 2022 | 958.88 kr | 0.959 kr | 2,842 |
| November 2022 | 951.15 kr | 0.951 kr | 3,180 |
| December 2022 | 2,296.91 kr | 2.297 kr | 3,744 |
Norway's electricity grid runs almost entirely on hydropower — reservoirs covered 88% of generation in 2024 with wind adding 11% and gas/biomass under 2%. Statnett, the state-owned TSO, splits the country into five bidding zones (NO1 South-East, NO2 South-West, NO3 Mid, NO4 North, NO5 West) reflecting the bottlenecks in the meridional north-south transmission corridors. Day-ahead clearing happens on Nord Pool.
HVDC interconnectors to Denmark, Germany (NordLink, 2020), the Netherlands (NorNed) and the UK (North Sea Link, 2021) make Norway a price-balancing hub for north-west Europe — exporting cheap hydro in spring and summer, importing wind in winter. Nuclear-free since the country never built reactors, Norway's 87 TWh of average annual surplus is among the largest in Europe.
Onshore wind permitting was effectively halted between 2019 and 2024 after public backlash; offshore wind tenders in Sørlige Nordsjø II and Utsira Nord aim to add ~30 GW by 2040.