Electricity generation in Norway was at 150 Terawatthours in 2023. Forecast projections from 2024 to 2028 indicate a steady annual growth in electricity generation. Year-on-year, the growth rates are expected to be approximately: 0.74% in 2024, 0.73% in 2025, 0.73% in 2026, 0.72% in 2027, and 0.71% in 2028. Over the last five years, the Compound Annual Growth Rate (CAGR) is projected to be around 0.73%.
Future trends to watch for:
- Potential shifts towards renewable energy sources and their impact on overall electricity generation.
- Technological advancements in energy efficiency and storage which could influence net generation figures.
- Policy changes and regulatory frameworks driving the energy market in Norway.
- Economic conditions and industrial demand fluctuations influencing electricity requirements.
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