Lower operating profit

Published:

The operating profit in the power industry came to NOK 22.2 billion kroner in 2015; a decline of 16 per cent compared with 2014. This may be seen in conjunction with considerably lower electricity prices in 2015.

Figure 1

Figure 1. Income statment for enterprises in electricity industry. Fixed 1998-prices

Production plants had the highest operating profit in 2015, at NOK 15 billion. The operating profit of grid companies amounted to NOK 3.8 billion, while the operating profit of remaining plants totalled NOK 3.4 billion.

Annual profit in the power industry came to NOK 11.9 billion in 2015. This is 15 per cent less compared with 2014.

Figure 2

Figure 2. Investment in fixed assets. 1998-prices

High power investments in 2015

Gross investments in the power industry rose by NOK 1.5 billion from 2014 to NOK 20.7 billion in 2015. Investments in the power grid were NOK 11.5 billion in 2015. Gross investments in hydro power plants came to NOK 4.6 billion, while gross investments in thermal power plants and wind power plants were NOK 115 and 180 million respectively.

Increase in electricity generation

Electricity generation totalled 144.5 TWh in 2015; an increase of 1.8 per cent compared with 2014. Norway’s exports of power came to 22.0 TWh in 2015, while imports totalled 7.4 TWh. This gave a net export of 14.6 TWh.

Rise in electricity consumption

There was an increase of 2.6 per cent in total net electricity consumption from 2014 to 2015, with a total consumption of 120.0 TWh. Household and agriculture roughly accounted for a third of the total electricity consumption. Other industries with a high share are power-intensive manufacturing (30 per cent) and services (20 per cent).