NEWS

OSLO, June 30 (Reuters) – Norway’s power grid operator Statnett (STASF.UL) on Wednesday raised its long-term forecast for power demand and prices, partly to reflect increased electricity consumption needed for decarbonisation projects, such as batteries and hydrogen.

Statnett’s updated forecast projected a European carbon price of 70 euros per tonne in 2030, up 35 euros compared with its last report published in October. The benchmark carbon contract currently trades at around 56 euros/tonne.

“Higher CO2 prices result in higher marginal costs in fossil power plants and thus also higher power prices both on the continent and here in Norway,” Statnett said.

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