Oslo s first pumped hydro storage company

Will pumped storage hydro be profitable in Norway?

The price variations seen on the Norwegian market for many days during the past few months would make pumped storage hydro very profitable indeed – and contribute to level out power prices around the clock. The price of electricity was high in Norway for many days during the fall of 2021.

When was the first hydro power station built in Norway?

Norway’s first hydro-power station, built by the company Laugstol Brug near the small town of Skien, began operations in 1885 with dc generation equipment supplied by Heyerdahl & Company. In 1890, an early electric streetlight system was supplied from a local hydropower station in one of the world’s northern- most towns, Hammerfest.

Is pumped storage hydropower a good idea?

Pumped storage hydropower, using electricity to fill hydro reservoirs, is back in the news because of the high electricity prices. Upgrading hydropower plants to allow for pumped storage requires large investments but can be profitable while contributing to stabilising electricity prices in a 100 percent renewable power system.

What is a pumped storage hydropower plant?

Pumped storage hydropower plants can be built with a high flexibility and provide rapid, zero-emission reserves, also called system services. This means they can get additional income from what we call reserve markets.

Should Norway build a hydropower plant?

When the majority of Norway’s hydropower stations were erected (from the 1960s to the 1980s), it was more imperative to build the country’s infrastructure and provide electricity than it was to preserve nature. More recently, there has been significant opposition to the planning and construction of new hydropower plants.

How much money can a pumped storage hydropower plant make?

The biggest lesson learnt from the case though, was finding out that the same pumped storage hydropower plant would get a substantially higher income from providing system services: 170 million euros per year for the same period. This shows how important it is for Norwegian hydropower to deliver system services, not just sell electricity.