A storm sends the price of electricity to zero in two Norwegian cities. that’s how

Storm Hans hit Scandinavia in early August, replenishing water supplies in a region where hydropower dominates electricity generation. On the bright side, there was free energy for customers in Norway's two largest cities on Monday, according to market data.

Bloomberg said, “Storm Hans dumped water on both Norway and Sweden, causing extensive flooding, landslides and property damage. The village hardest hit by the storm, Nesbyen, experienced its worst flooding in 100 years, with 256 millimeters (10 inches) of rain falling in August, about three times the normal volume. But along with the devastation, the flood filled dikes in southern Norway to the brim, after remaining at 68% in the same period last year.

As a result, due to full reserves, hydropower plants were working at full capacity, producing spot prices for electricity before taxes and grid tariffs of 0 and -0.3 kroner (-3 US cents) on Monday in capital, Oslo, and in the second largest city, Bergen.

On Nord Pool, Europe's main energy market, wholesale electricity prices for the two cities were -1.42 euros per megawatt hour, meaning power companies pay customers for energy use.

“Electricity producers have explained in the past that it is better to produce when prices are slightly negative than to take steps to stop production,” Europower said. So free electricity for Norwegians.

Low Nordic energy prices have helped ease higher mainland prices. Energy prices have eased as the continent has above-average natural gas storage levels for this time of year. Inventories stand at 93% of capacity, exceeding the 90% target set by the European Union for November 1st.

Low energy prices could not have come at a better time for consumers from Oslo to Stockholm and beyond. Worst inflation in a generation, plus high interest rates, hit European households hard. “Weak currencies in both countries are exacerbating the situation, with the number of bankruptcies among Swedish companies reaching its highest level in 10 years and the number of Norwegian companies struggling with debt is on the rise,” confirmed Bloomberg.

News outlets that unleashed "climate hysteria" about hot temperatures, despite it being midsummer in July, also blamed Storm Hans as a direct result of "climate change." We are sorry to have to tell these people, but the climate has been changing for billions of years.