While we have a lot of hydro power, the grid itself is not ideal. There are several regions which are quite constrained in terms of how much power they can import from other regions.

For example, recently there's been quite high electricity prices here (as in most of Europe) due to lack of rain. However this only affected the southern half of Norway[1], as the northern part had a fair bit of rain but limited distribution lines to the south.

There's been quite a bit of talk in the news about how much we need to spend to upgrade our grid for the future. It's not gonna be cheap...

[1] https://www.nordpoolgroup.com/Market-data1/Dayahead/Area-Pri... (compare Oslo with Tromsø for late September)