Record high wind power generation

The increase from 2017 to 2018 was one TWh and must be seen in conjunction with several new wind power plants in 2018.

Although wind power increases rapidly, hydro power still dominates the Norwegian electricity generation. Hydro power accounted for 95 per cent of the total electricity production in 2018, while thermal and wind power accounted for 2.4 and 2.6 per cent respectively. Compared to 2017, the wind power`s share of total production increased by 0.7 percentage points.

Drop in the total electricity generation

Electricity generation totaled 147.1 TWh in 2018; which is 1.6 per cent or 2.3 TWh lower than the record year of 2017.

In 2018, the county of Hordaland had the highest electricity generation. The electricity generation in this county accounted for 14.0 per cent of total production. Other counties with a high production share are Nordland (12.4 per cent) and Sogn og Fjordane (11.3 per cent). See the map showing electricity generation at county level. 

Electricity, Statistics Norway.

Large net export of power

Norway’s export of power totaled 18.5 TWh in 2018, while imports came to 8.3 TWh. This gave a net export of about 10 TWh. 

All time high domestic electricity consumption

The gross consumption of electricity came to 136.9 TWh in 2018; an increase of 2.0 per cent compared with 2017 and the highest level ever recorded. Among other things, the all-time high electricity consumption can be seen in conjunction with increased consumption in the groups extraction of crude oil and natural gas, production of non-ferrous metals in power-intensive manufacturing and information and communication. The electricity consumption in information and communication increased by 55 per cent from 2017 to 2018. This must be seen in light of new data centers in Norway. Over time increasing prosperity and growth among the population also contribute to higher electricity consumption.

Increase in operating profits for the power industry

After a slight decline in 2017, the operating profit for the power industry rose from 29,3 billion to 44 billion in 2018.

Operating expenses increased by 26,5 per cent, to NOK 126,6 billion, while the operating income was NOK 170,5 in 2018, an increase of 31,9 per cent compared to the previous year. This development may be seen in connection with higher electricity prices in 2018. The price in the elspot market was 41,6 øre/kWh in 2018, an increase of around 50 per cent compared to 2017. 

Production plants generated 33,2 billion of the total operating profits for the power industry. Grid companies increased their operating profit by 74 per cent to NOK 6, 6 billion¹. The operating profit for remaining plants, totaled NOK 4,2 billion. Operating profit is the highest since 2010, measured in 2015-prices.

Continued high power investments in 2018

Total investments in the power industry amounted to NOK 36,9 billion in 2018; an increase of 23,8 per cent. Investments in wind power saw the largest increase. In 2018, investments in wind power totaled NOK 7,5 billion, compared to NOK 4,1 billion the previous year. This is an increase of 82,9 per cent.

Gross investment in the power industry in 2018, amounted to NOK 33,3 billion. The counties with the highest investment levels were Trøndelag and Vest-Agder. 

Electricity, Statistics Norway.

¹ Due to reclassifications of type of utility, the figures for grid companies and distribution plants for 2018 are not directly comparable with previous periods. (The note added 2 December 2019)