Europe is currently facing substantial energy challenges as a result of an unusually dry winter, which has particularly impacted Norway's hydropower system. The lack of snow has led to a significant energy deficit of approximately 25 terawatt-hours, representing nearly a fifth of Norway's total hydropower production from the previous year. This shortfall is causing disruptions in electricity markets, reducing energy exports to countries like the U.K. and Germany, and driving up Nordic electricity prices sharply.