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Norway is selling electricity to Sweden and then buying it back from Sweden at a higher price? Why would they do that?
Because we’re all connected to the same European energy marketplace, and as we all know the market always finds the best and most optimal solution! /s
Norway is producing a lot of energy in the North but needs a lot of energy in the South. But they also only have a weak interconnection between these two regions, so the energy is "trapped" in the North, leading to very low prices in the North and higher prices in the South.
Since Norway's and Sweden's energy grid are connected, that Norwegian energy from the North can be transferred south using Swedish infrastructure and re-enter Norway in the South. You could argue that the price of the northern electricity went up because it could actually be used now.
This is what I expected to be the case. Cut the cables and the prices in the north go back down, but in the south they'll up.
Hhhhehhhhh.....I wish I knew. Maybe the power companies in Norway are buddies with the companies in Sweden, and they've got some kind of sweet deal under the table... Unless it goes higher up to the elected officials making deals behind closed doors. But we don't call it corruption. No, no, no, that's a naughty word in Scandinavia.
Power is almost entirely covered by hydroelectricity in Norway. And 90% of that is held publicly (state, municipalities).
Energy production is public. Energy trade is private.
There is no trade per se, only transport. The markup is due to limited capacity for this transport and goes into the pockets of the operator of the grid.
That's Statnett in Norway (fully state-owned) and Svenska Kraftnät in Sweden (fully state-owned), so no private beneficiaries.