Résumé: A 9 week growth trial was performed at two rearing densities; low (similar to 25 kg m(-3)) and high (similar to 100 kg m-3), in combination with either static water or a water current corresponding to 0.9 body lengths s(-1), to investigate the effects of density and exercise on the bioenergetics of rainbow trout reared at 19 degrees C, particularly routine metabolic rate (RMR), specific growth rate (SGR), and feed conversion ratio (FCR). The growth trial showed that high rearing density resulted in significantly lower SGR and increased FCR, with no significant alleviating effects of a water current, although slight improvement in both parameters were observed at low density. A significant linear relationship between SGR and FCR suggested that increased energy expenditure was the primary cause of reduced growth. Hourly measurements of instantaneous oxygen uptake, during a period of similar growth (200-350 g), revealed clear effects of the experimental conditions. Energetic budgets were calculated from feed intake and routine metabolic rate (RMR) and revealed that whilst feed intake was similar for all groups, a higher RMR in the high density groups resulted in a higher daily rate of energy utilization for routine activity, leading to slower growth. However, a lower RMR in fish subjected to a current resulted in a greater proportion of energy being retained, leading to significantly higher SGR for the selected period, at both low and high density. Furthermore, the presence of a water current was observed to induce schooling behaviour, which is known to reduce aggression and stress. It is thereby likely that the presence of a current had a positive effect on welfare in addition to its effect on energy metabolism. We conclude that the presence of a water current to some extent could alleviate the negative effects of high density at 19 degrees C, a relatively high temperature experienced in farming of rainbow trout during hot seasons. (C) 2011 Elsevier B.V. All rights reserved.