On Monday, Norway's Minister of Petroleum and Energy Terje Aasland, and Sweden's Minister for Energy and Digital Development Khashayar Farmanbar, met to discuss the major challenges in the electricity market with high and widely varying prices.

The ministers also discussed an intensified cooperation in the form of a task force, which will investigate what can be done to bring down the electricity prices in the North.

"We wish to find common solutions to common problems," says Farmanbar in a press release.

Europe is affected by high prices of energy and it is considered more important than ever to find solutions and models which ensure a well-functioning electricity market that can provide lower prices for households and businesses, and therefore economic growth, writes the Norwegian government.