Electricity prices in Norway 2025
In 2025, the average wholesale day-ahead electricity price in Norway was 0.455 kr /kWh (▲9% vs 2024). Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2025
| Month | NOK/MWh | NOK/kWh | MW |
|---|---|---|---|
| January 2025 | 490.23 kr | 0.490 kr | 3,946 |
| February 2025 | 628.98 kr | 0.629 kr | 3,877 |
| March 2025 | 353.87 kr | 0.354 kr | 3,483 |
| April 2025 | 362.08 kr | 0.362 kr | 3,018 |
| May 2025 | 421.92 kr | 0.422 kr | 2,698 |
| June 2025 | 344.87 kr | 0.345 kr | 2,538 |
| July 2025 | 305.64 kr | 0.306 kr | 2,404 |
| August 2025 | 388.96 kr | 0.389 kr | 2,567 |
| September 2025 | 401.68 kr | 0.402 kr | 2,681 |
| October 2025 | 423.07 kr | 0.423 kr | 3,082 |
| November 2025 | 704.91 kr | 0.705 kr | 3,538 |
| December 2025 | 637.18 kr | 0.637 kr | 3,707 |
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.