Norway Moves to Limit Power Exports in Blow to Europe

Norway is gearing up to limit power exports, an early sign of the tests Europe’s cross-border solidarity will face this winter as the energy crunch deepens.

Refilling reservoirs will be prioritized over power production when levels fall below seasonal averages, Energy Minister Terje Aasland said Monday. The country is one of Europe’s top exporters of electricity, sending about a fifth of its output to its neighbors but low water levels in southern Norway mean the government says it needs to act now to prevent domestic shortages this winter.

Source: Bloomberg