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High electricity prices behind high profit
High electricity prices resulted in high annual profits in the power industry in 2006 despite lower production than in 2005. The operating profit increased by 21.7 per cent to NOK 30.3 billion, while the annual profit came to NOK 17.5 billion, an increase of 31.6 per cent compared with 2005.
The total electricity bill of households consists of the price of electric power, grid rent and public taxes (consumer tax and VAT). The total price paid by households increased from 62.0 øre/kWh in 2005 to 75.9 øre/kWh in 2006, excluding VAT. The power price, grid rent and consumer tax accounted for 41.6, 24.5 and 9.8 øre/kWh, respectively. The low inflow to Norwegian water reservoirs contributed to the high electricity prices.
The power price for pulp and paper products and power intensive manufacturing was 20.7 and 16.4 øre/kWh, respectively.
Operating profit margin
The operating profit margin is defined as operating profit divided by operating income. The operating profit margin decreased by 5.2 percentage points from 2005 to 2006 and was 14.2 per cent for the power industry as a whole.
Gross investments in the power industry rose by 6.6 per cent compared with 2005 and amounted to NOK 8.0 billion in 2006. Investments in water power plants, hydro-electric power stations, thermal power plants and wind power plants amounted to NOK 453 million, NOK 2192 million, NOK 824 million and NOK 184 million, respectively.
Power production
The production of power came to 121.4 TWh in 2006, a decline of 12.0 per cent compared with 2005. Norway’s imports of power came to 9 802 GWh, while exports totalled 8 947 GWh, resulting in net imports of 855 GWh.
Lower consumption of electricity
There was a decrease of 2.6 per cent in consumption from 2005 to 2006 and total net consumption amounted to 111.1 TWh. The consumption by households totalled 32.3 TWh in 2006, a decline of 0.4 TWh in 2005.
Tables:
- Table 1 Main figures. 1989-2006
- Table 2 Potential, operational and not operational hydro power by county. 2006 and 2007. GWh
- Table 3 Capacity of installed machinery, by type. 1950, 1955 and 1960-2006
- Table 4 Capacity of installed machinery, by type, county and ownership group. 2006
- Table 5 Power stations, by size (maximum output). 1974-2006
- Table 6 Hydro-electric power stations, by size (maximum output) and county/ownership group. 2006
- Table 7 Lines at the end of the year by type of line. 1974-2006. Km
- Table 8 Lines at the end of the year, by type of line and voltage. 2006. Km
- Table 9 Lines at the end of the year, by type of line and county1
- Table 10 Transformers at the end of the year, by county/ownership group. 2006
- Table 11 Production, imports, exports and consumption of electric energy. 1950, 1955 and 1960-2006. GWh
- Table 12 Production of electric energy, by type, county and ownership group. 2004-2006. GWh
- Table 13 Electricity balance, year/quarter. 1994-2007. GWh
- Table 14 Net consumption of electric energy, by consumer group. 1960 and 1965-2006. GWh
- Table 15 Net consumption of priority power in mining, quarrying and manufacturing industries, by consumer group. 1960 and 1965-2006. GWh
- Table 16 Net consumption of electric energy, by type and consumer group. 2005 and 2006. GWh
- Table 17 Net consumption of total electric energy, priority and non-priority, by consumer group and county. 2005 and 2006. GWh
- Table 18 Net consumption of total electric energy in households per capita, by county. 1994-2006. kWh
- Table 19 Weighted average prices for electricity and grid rent, exclusive of VAT. 1997-2006. øre/kWh
- Table 20 Prices of electric energy and transmission, by consumer group. 2006. øre/kWh
- Table 21 Distribution of prices of electric energy for households, by quantiles and standard deviation. 1994-2006. øre/kWh
- Table 22 Prices of electric energy and transmission to households, by county. 2006. øre/kWh
- Table 23 Prices of electric energy traded in the wholesale market and concession power. 1994-2006. øre/kWh
- Table 24 Average prices of imports and exports of electric energy. Sweden and Denmark. 1973-2007. øre/ kWh
- Table 25 Number of utilities and generators, persons engaged and staff-years, by type of utility and activity. 2005 and 2006
- Table 26 Internal accounts, by type of activity for all units in electricity supply, 2005 and 2006, NOK million
- Table 27 Economic main figures for all units in electricity supply. 2005 and 2006. NOK million
- Table 28 Income statment for enterprises in electricity supply, by type of utility. 2005 og 2006. NOK million
- Table 29 Balance sheet for enterprises in electricity supply, by type of utility. 2005 and 2006. NOK million
- Table 30 Key figures for enterprises in electricity supply, by type of utility. 2005 and 2006.
- Table 31 Income statment for enterprises in electricity supply, by ownership group. NOK million
- Table 32 Balance sheet for enterprises in electricity supply, by ownership group. 2005 and 2006. NOK million
- Table 33 Key figures for enterprises in electricity supply, by type of utility
- Table 34 Acquisition and sale of fixed assets, by type of capital. 2006. NOK million
- Table 35 Acquisition of fixed assets, by type of utility, county and ownership group. 2006. NOK million
The statistics is published with Electricity.
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