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Well-filled reservoirs and mild weather reduce electricity prices
statistikk
2012-06-19T10:00:00.000Z
Energy and manufacturing;Prices and price indices
en
elkraftpris, Electricity prices, electricity prices, power prices, fixed prices, spot prices, grid rent, end user market, wholesale market, consumer groups (for example households, service industries, power-intensive manufacturing)Producer and wholesale price indices, Energy , Prices and price indices, Energy and manufacturing
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Electricity prices, Q1 2012

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Well-filled reservoirs and mild weather reduce electricity prices

The average price of electricity for households in the first quarter, excluding taxes and grid rent, was 34.4 øre/kWh. This is 40 per cent lower compared to the same quarter in 2011. Spot contracts were the cheapest contract type in the period, at an average cost of 33.3øre/kWh.

Electricity prices, grid rent and taxes for households, quarterly

Prices of electric energy for households, taxes and grid rent excluded. Øre/kWh

After the rainy and mild autumn of 2011, the reservoir filling was 78.2 per cent in the first week of 2012. The same week last year the filling was 42.8 per cent, according to the Norwegian Water Resources and Energy Directorate (NVE). The precipitation and temperatures were higher than average in the first three months of 2012. Well-filled reservoirs and high power production, combined with low demand due to mild weather resulted in low prices for consumers.

The overall average price of electricity for households, including grid rent and taxes, amounted to 87.6 øre/kWh in the first quarter. This is 25 per cent lower than in the same quarter in 2011. The grid rent and taxes came to 26.3 and 26.8 øre/kWh respectively.

Spot contracts cheaper

Households tied to spot price contracts paid 33.3 øre/kWh on average, excluding grid rent and taxes, in the first quarter of 2012. Almost 61 per cent of the power sold to household consumers is sold through spot price contracts, which makes this the most popular form of contract within the first quarter.

The price of variable price contracts amounted to 35.5 øre/kWh. New fixed-price contracts lasting one year or less and fixed-price contracts lasting one year or more totalled 40.0 and 39.2 øre/kWh respectively. Other fixed-price contracts amounted to 38.8 øre/kWh.

Percentage distribution of contract types. 1st quarter 2012

Prices of electric energy, taxes and grid rent excluded. Øre/kWh

Lower electricity prices for the service industry and in manufacturing excl. energy-intensive manufacturing

The average price of electricity in the service industry in the first quarter was 32.6 øre/kWh, excluding taxes and grid rent. This is 38 per cent lower than the price one year ago.

In manufacturing excl. energy-intensive manufacturing, the average price amounted to 31.8 øre per kWh. This is almost 16 per cent lower than in the same period in 2011.

Increase in electricity prices for energy-intensive manufacturing

For energy-intensive manufacturing and the pulp and paper industry, the average price of electricity was 28.7 øre per kWh in the first quarter, excluding taxes and grid rent. This is 11 per cent higher than the first quarter of 2011.

There have been some changes in the statistics from the first quarter of 2012. The measuring period was increased from one week to cover the whole quarter. From 1 January 2012, the cost of electricity certificates is included in the prices in the end-user market. In addition, some changes have been made in the household fixed-price contracts in table 1 Electricity prices in the end-user market . Electricity access in table 3 Electricity prices in the wholesale market has been removed.

See also http://www.ssb.no/energi_en/

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