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ENERGY

Why Norway imported more energy than it exported in 2019

Norway used more energy than it produced domestically in 2019, making the country a net importer of power for the first time since 2010.

Why Norway imported more energy than it exported in 2019
File photo: AFP

Although Norway went from an exporting country to an importing country in terms of energy, the net quantity of electricity that was purchased was relatively small.

“We just about received more energy from abroad than we exported,” Henrik Glette, CEO of Statnett, which measures the power flow in the Norwegian electricity grid, said to NRK.

According to Statnett, the imported electricity is equivalent to the consumption of around 7,000 Norwegian households.

“In a normal year, there is normally a net export of around 16 to 18 TWh (terawatt hours), while last year there was a net import of 0.16 TWh,,” Glette said.

Most of the imported power came from Sweden and Denmark.

The reason for the net energy import can be traced back to the dry summer of 2018, which caused historically low water levels in large parts of Norway and little water in the reservoirs. The heatwave also resulted in operating problems in many power plants and high power consumption.

With this in mind, power companies in 2019 chose to save water during periods in which electricity was cheaper abroad.

A total of 133 TWh were produced in Norway during spring 2019 – significantly less than usual production in recent years.

The Norwegian Water Resources and Energy Directorate (NVE) said it could not comment on whether net import will become a regular occurrence.

“This is something which varies from year to year depending on how much it rains, but also on how much power generation we can develop in the form of wind farms, NVE senior engineer Christer Skotland said to NRK.

READ ALSO: Two days into 2020, Norway has already broken temperature records twice

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BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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