Norway's Dry Winter Impacts Europe's Clean Energy Supply and Prices
Norway is experiencing its driest winter in decades, leading to a significant reduction in snow reserves that are crucial for hydropower generation. This situation has resulted in a 25 terawatt-hour energy deficit, nearly a fifth of Norway's total hydropower output from the previous year. The lack of snow has caused water levels in reservoirs to drop, prompting companies to limit outflows. As a result, electricity exports to the UK and Germany have decreased by about 50% and 40%, respectively, causing a surge in Nordic electricity prices. The situation is exacerbated by a cold winter that increased electricity demand and reduced wind generation, further straining the energy supply. 
