Electricity prices, Q2 2001

Usually the prices of electric energy are characterized by natural seasonal variations. It is therefore unusual when the prices of electric energy actually increase by 17.1 per cent from the first to the second quarter this year, taxes excluded. The price of electric energy in the second quarter this year are by far the highest price registered since the quarterly statistics of electric energy prices started in the first quarter 1998.

The price of electric energy for households inclusive taxes was 39.6 øre/kWh the second quarter this year. This is a 10.6 per cent increase from the first quarter and as much as 64.2 per cent more than the second quarter last year.

Lower water reservoir levels

A higher reduction in the water reservoir levels than normal the first months this year has contributed to higher prices of electric energy in the wholesale market and after a while also in the end-user market.

Less increase in prices of electric energy for industry

The price of electric energy for services was on average 19.3 øre/kWh, taxes excluded, in the second quarter this year. This is 1 per cent lower than the first quarter this year and 61.4 per cent higher than the second quarter last year.

For manufacturing, energy-intensive manufacturing and pulp and paper industry excluded, the price of electric energy was 18.4 øre/kWh the second quarter this year exclusive taxes. That is 40.2 per cent higher than the second quarter last year. Energy-intensive manufacturing and pulp and paper industry on average paid 13 øre/kWh the second quarter, a 9.6 per cent increase from the second quarter last year.

Higher prices of electric energy in the wholesale market

The increase in the prices of electric energy in the end-user market is a result of the high prices in the wholesale market. The average price from wholesales of electricity the second quarter this year was 17 øre/kWh, taxes excluded. That is approximately the double price compared with the same quarter last year. The price of electric energy in the spot- and regulation market has by far increased the most in this period. For this market the increase was 182.1 per cent. But the spot prices sometimes fluctuates considerably between weeks. Therefore it is important to notice that this statistics are based on one measuring week per quarter.

Also see

http://www.ssb.no/vannmag_en/

http://www.ssb.no/elektrisitet_en/

Tables:

• Table 1 Electricity prices in the end-user market, quarterly. øre/kWh
• Table 2 Electricity prices in the wholesale market, quarterly. øre/kWh
• Table 3 Range of electricity prices in end-user market and distribution of sold quantity in the sample
• Table 4 Time series covering quarterly prices of electric energy, taxes excluded. øre/kWh
• Table 5 Time series covering quarterly prices of electric energy for households, taxes included. øre/kWh
• Table 6 Time series covering quarterly prices of electric energy in the whole sale market, taxes excluded. øre/kWh