Journal of Energy Markets

Modeling Nord Pool's NO1 area price

Anders Løland, Xeni K. Dimakos


The Nordic electricity spot power market (Nord Pool) is divided into several price areas. TheNO1area (southern Norway) is of particular interest. It is dominated by hydropower and has experienced large deviations from the system price. Using historical data (prices, reservoir levels and transmission congestion data), we statistically investigate the historical contributors to this price spread. The water reservoir level, followed by the Elspot capacity and Elspot net capacity utilization, are found to be the most important explanatory variables. As expected, lower capacity and more flow coincide with higher price spreads.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here