The future is electric
The Nordic region is a single electricity market divided into different price areas (e.g. NO1). The map shows how much power is being exchanged between the different price areas (spot market areas) right now.
The price areas are market areas for reporting purchases and sales of power on the power exchange. This means that bidding for purchases and sales of power shall take place specifically for each spot market area for every hour during the next 24 hours. The price is thus not regulated by the authorities, but is a result of the supply and demand for power for this market area which is reported to the power exchange.
Consequently. the power and market situation in each area will be determined by which direction power is flowing between the spot market areas. Power generators will normally set higher prices for their power in areas with a shortage of energy than generators in areas with a better balance of energy.
This will, in turn, lead to lower power generation in areas with a shortage of energy, while areas with a better balance of energy will produce more than the consumption within their own area. Power will thus flow from low-price areas to high-price areas.
This will also result in full utilisation of transmission capacity when there is a need to transmit power from one area to another. Higher prices in areas with a shortage of energy will also contribute toward reducing consumption. This division into price areas is intended to contribute toward a reduction in the risk of local or regional power deficits.
More statistics can be acquired from Nord Pool Spot, which is the Nordic power exchange.