Nordic Wind Power Surges to Record in Relief From Energy Crisis

Power output from thousands of wind turbines in the Nordic region rose to a record, damping soaring winter bills for millions of homes.

(Bloomberg) — Power output from thousands of wind turbines in the Nordic region rose to a record, damping soaring winter bills for millions of homes.

Wind generation exceeded 24 gigawatts on Tuesday evening, beating the previous record set in November, according to data from European grid group Entsoe. The gusty weather is expected to remain for a few days, although at slightly lower levels, according to a Bloomberg model.

Windy and mild weather this week has helped to reduce regional power prices, a key component of energy bills for homes and factories. Although temporary, the lower costs couldn’t come at a better time as soaring inflation and another Swedish interest rate hike on Thursday hit family budgets.

It’s probably only a matter of time until the record is broken again. Utilities are adding turbines at a fast pace as the technology is seen as vital for the Nordic region — and the rest of Europe — to reach green targets. It will provide the backbone of a future energy system as everything from transport to heavy industry gets increasingly electrified.

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