Electricity prices, Q4 2009

Lower prices in 2009 can be viewed in conjunction with reduced fossil fuel prices and lower net consumption of electricity. According to monthly electricity statistics , net consumption of electricity from January to October in 2009 was 6.6 per cent lower than in the same period in 2008. Net consumption of electricity is lower due to reduced electricity consumption in energy-intensive manufacturing caused by the financial crisis.

The overall average price of electricity for households, including grid rent and taxes, amounted to 82 øre per kWh in the fourth quarter. For 2009 as a whole, the average price was 85.9 øre per kWh; 3.9 per cent lower compared to 2008. The grid rent and taxes came to 23.1 and 25.1 øre/kWh respectively in 2009.

Cheap spot contracts

In 2009, households tied to spot price contracts had the cheapest type of contract. The average price, including grid rent and taxes, amounted to 33.5 øre per kWh. Variable price contracts (not tied to spot price) came to 36.8 øre per kWh, while fixed price contracts were more expensive, which is normal when prices are falling. One-year fixed price contracts and other fixed price contracts totalled 38 and 40.6 øre per kWh respectively.

Lower electricity prices for service industry and manufacturing excl. energy-intensive manufacturing and pulp and paper industry

The average price of electricity in the service industry was 33.1 øre per kWh, excluding taxes and grid rent, in the middle of the fourth quarter. This is 28 per cent lower than one year ago. In 2009 as a whole, the price decreased by 2.6 per cent compared to last year.

In manufacturing excl. energy-intensive manufacturing and the pulp and paper industry, the average price in the fourth quarter amounted to 29 øre per kWh. This is 15 per cent lower compared to the same quarter in 2008. Nevertheless, the average price in 2009 as a whole increased by 3.6 per cent compared to 2008.

Higher electricity price for energy-intensive manufacturing and the pulp and paper industry

For energy-intensive manufacturing and the pulp and paper industry, the average price of electricity was 21.1 øre per kWh in the fourth quarter, excluding taxes and grid rent. This is 6.6 per cent higher than one year ago. The annual average price increased by 5.9 per cent compared to 2008. The price increase is connected with the fact that some of the old low-priced contracts have ended.

The measuring period for the fourth quarter of 2009 was week 45. The average elspot price for the entire quarter corresponds well with the elspot price in the measuring period.

See also

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

Tables:

• Table 1 Electricity prices in the end-user market, quarterly. Exclusive VAT. øre/kWh
• Table 2 Electricity prices and grid rent for households, 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 and yearly prices of electric energy, taxes excluded. øre/kWh
• Table 5 Time series covering quarterly and yearly prices of electric energy for households, taxes included. øre/kWh
• Table 6 Electricity prices in the wholesale market, quarterly. øre/kWh
• Table 7 Time series covering quarterly and yearly prices of electric energy in the whole sale market, taxes excluded. øre/kWh