Source: European Parliament
The Commission notes the new measures related to the electricity prices and the Norwegian power market announced by Prime Minister Jonas Gahr Støre.
As a member of the European Economic Area (EEA), Norway is part of the single market and Union rules on electricity markets apply in all circumstances.
The EU expects, in line with their obligations under the EEA Agreement, all EEA EFTA (European Free Trade Association) States to fully incorporate into the EEA Agreement and then implement all energy-related legislation in a timely manner, subject to any agreed adaptations.
The Commission continues to work closely with the three EEA EFTA States on the full and timely incorporation and implementation of all energy-related legislation.
Norway is connected with Sweden, Finland, and Denmark in a common synchronous power grid. The Nordic grid is then connected to the rest of Continental Europe bringing mutual economic and social gains stemming from interconnected energy markets, such as enabling decarbonisation and increasing security of supply.
On 26 February 2025, the Commission adopted an Action Plan for affordable Energy[1] setting actions to lower energy costs for European consumers and businesses.
As outlined in that plan, a swift and full implementation of the Electricity Market Design reform is crucial to reduce the impact of volatility on consumer bills and reduce the cost of electricity supply.
As part of this plan, the Commission is also proposing additional actions to promote the uptake of long-term electricity supply and boost flexibility and demand response.
- [1] Action Plan for Affordable Energy: Unlocking the true value of our Energy Union to secure affordable, efficient and clean energy for all Europeans COM (2025) 79 final.