"Financial Times"Norway’s energy selfishness pisses off its neighbors

Norway’s neighbors view its plan to curb electricity exports as Europe grapples with a severe energy crisis as “a dangerous and selfish act,” according to the Financial Times.

AndThe Financial Times report explains:that grid operators in Denmark, Finland and Sweden have taken the unusual step of warning (opens in a new window) that Norway’s proposal to cut off electricity exports amid concerns in Oslo over its hydropower generation is undermining the European market.

For his part, Jukka Rosonen, CEO of Finnish network operator Fingrid, said: “This will be the first country in Europe to do this in the field of electricity. This would be a very dangerous and nationalist move. This is very selfish behavior.” “

Rosonen argued that Norway made “a lot of money” after the military operation and that cutting off electricity exports would help “populist nationalist voices divide the market, and in the end everyone will lose.”

According to the newspaper, the criticism highlights how the energy crisis in Europe has heightened tensions between traditional allies, and electricity prices have risen in the wake of Russia’s military operation in Ukraine, where, as Western Europe’s biggest oil producer, Norway will reap record sums from it. selling oil, gas and electricity But amid growing concerns about how Europe will handle this winter due to soaring energy prices and availability, Norway’s proposal to limit electricity exports to bolster its own security of supply has sparked outrage.

For his part, Johannes Braun, director of the electricity market at Energinet, the Danish grid operator, explained: “In any situation like this, any national action is risky… it’s contagious… people can say if Norway can do it. We can, so I think it’s the wrong approach.”

He added that “Denmark is not planning any retaliatory measures.”

And Andreas Peland Eriksen, Minister of State at the Norwegian Ministry of Petroleum and Energy, confirmed that the center-left government in Oslo was looking for a mechanism that would restrict production and therefore exports when the reservoirs supplying its hydroelectric power plants fell “very low.” low level”.

He noted that any mechanism would comply with his “obligations” to Europe and help “stabilize the entire integrated energy system”, but neighbors do not agree with this.

Norway’s finance minister tried to allay fears in Helsinki and Stockholm by noting that they get electricity from northern Norway, where water levels in reservoirs are high and prices are low, in contrast to the south of the country, which supplies Denmark, Germany, Britain and the Netherlands. , while Rossonen dismissed the argument with a bit of disdain, saying there was only a “very weak” and “very small” power line in the north, according to the newspaper.

The Norwegian government is under pressure to do more to ease high energy prices at home, especially for distressed companies in the south of the country.

Source: Financial Times.

Related Stories

Leave a Reply