Jukka Ruusunen, CEO of the Finnish electricity company Fingrid, has announced that Northern Europe must be prepared for even higher electricity prices in the coming months, reports Postimees.
Electricity prices on the Nord Pool exchange were at a historic high in September, given that the past summer was atypically hot and unusually still. As Ilta-Sanomat reports, since water reserves in Norwegian hydroelectric power plants remain very low, electricity production levels may stay low.
If rainfall in Norway remains low during the autumn, consumers will need to brace themselves for record-high prices during the winter period.