Lower electricity price for households

In their quarterly electricity market report NVE (the Norwegian Water Resources and Energy Directorate) points out that the water reservoirs level in Norway increased during the second quarter of 2019 and that the hydrological balance improved from -12.2 TWh to -4.7 TWh in the same period.

The overall price of electricity for households, including grid rent and taxes, was on average 112.6 øre per kWh in the second quarter of 2019, according to new figures from the electricity price statistics. This is 2.1 per cent higher compared to the second quarter in in 2018, but almost 10 per cent lower than in the previous quarter. Of this the price of electricity amounted to 40.5 per cent, the grid rent 27 per cent and taxes came to 32.5 per cent.

Contracts with variable prices were most expensive

Households with variable price contracts had the most expensive contract type in the second quarter of 2019 with an average electricity price of 52.3 øre per kWh, excluding taxes and grid rent. For households with contracts tied to the spot price, which is the most common type of contract (see figure 3), the average electricity price was 43.8 øre per kWh.

Households with old fixed-price contracts had the cheapest contract type in the second quarter with an average electricity price of 35.1 øre per kWh. Few households have power through fixed-price contracts, and these contracts represent a very low proportion of total power consumption in households.