Vestre is the cheapest electric car of this decade – E24

Large-scale renewable energy development should lower electricity prices for Norwegians within the decade. – The goal is quite clear, and we have a plan to reach it, says Business Minister Jan Christian Vestre (AP).

At the national meeting of the Labor Party, the party launched a new party electricity policy: Electricity prices must go down and electricity prices in Norway must be lower than electricity prices in Europe.

When asked when he could expect that, Industry Minister Jan Christian Vestre said it would happen this decade.

– We will ensure that we have a large surplus of energy so that our competitive advantage returns, he tells E24.

He thinks people can be confident that the government has a plan to get there, but it won’t say when exactly we’ll get cheap electricity.

– We are completely dependent on the situation in Europe. But what people can be sure of is that the goal is quite clear, and we have a plan to achieve it.

development and national oversight

The government’s plan for cheaper electricity this decade looks like this:

1. Large-scale development of renewable energy, which means that we constantly have large surpluses in energy and contributes to lower prices from Europe

2. Strong national control over shared natural resources, and no new foreign cables until we control our own energy situation

3. Invest in energy efficiency

Vestry acknowledges that it will take time and that the government will therefore roll out what he calls Europe’s most comprehensive electricity subsidy scheme yet.

– We’re also ready to look at further action, says Pfister, who doesn’t want to get into what that might be.

More of everything – as quickly as possible

You mentioned that renewable energy should be cheap. How can it be determined?

– There’s a logical reason behind that. If we can ensure that Norway has large energy surpluses, it will logically reduce price contagion from Europe, says Industry Minister.

He points out that it is necessary to develop renewable energy as soon as possible, whether from offshore or onshore wind energy, as well as to modernize hydroelectric power stations, and to invest in solar energy and energy efficiency.

– We’re doing all this now, Pfister says.

Electricity can be more expensive

Norway currently produces about 155 TWh (TWh) of electricity in a normal year, while consumption is around 140 TWh. But among other things, Statkraft predicts that energy consumption in Norway will increase much more than production, and that there will be an energy deficit from 2027.

If the balance of power is not strengthened, prices in southern Norway will follow – and in the worst case – the European price level, according to energy authority.

– NVE says 40 TWh needs to be built for it to affect the price of electricity to some extent – how will it go?

– 1,500 floating offshore wind turbines are scheduled to be implemented over the next two decades. Then there’s the development of hydroelectric power plants, and the development of solar and wind power on the ground as well, Pfister says.

When asked why the government would undertake to solve the electricity price crisis with electricity from offshore wind turbines seven years away, Pfister replied that the sum of everything would add to the energy surplus.

– But we admit that this will take some time, and therefore we are developing support plans and a new fixed price system, says Vestry.