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Lower electricity prices for households
statistikk
2015-11-25T10:00:00.000Z
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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The quarterly statistics cover prices in the end-user and wholesale market. In the 3rd quarter of 2015, the average price of electricity for households was 37 per cent lower than in the same quarter in 2014.

Electricity prices, Q3 2015

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Lower electricity prices for households

The average price of electricity for households in the third quarter of 2015, excluding taxes and grid rent, was 20 øre per kWh. This is 37 per cent lower compared to the same quarter in 2014.

Electricity prices in the end-user market, quarterly. Øre/kWhPublished 25 November 2015
3rd quarter 2015Change in per cent
Øre/KwHLast 3 mos.Last 12 mos.
1New fixed-price contracts are entered into the last 3 months before the measuring period, and older fixed-price contracts are entered earlier.
Households. Total price of electricity, grid rent and taxes72.9-8.9-14.1
Electricity price20.0-23.1-36.7
Grid rent26.0-1.10.0
Taxes26.9-2.9-1.5
 
Households. Electricity price by type of contract. Exclusive taxes
New fixed-price contracts-1 year or less131.5-4.3-8.7
New fixed-price contracts-1 year or more131.2-6.9-4.9
All other fixed-price contracts33.51.2-12.3
Contracts tied to spot price17.2-26.8-43.2
Variable price (not tied to spot price)25.3-19.4-22.2
 
Business activity. Electricity price. Exclusive taxes
Services18.1-23.0-39.7
Manufacturing excl. energy-intensive manufacturing16.6-25.2-43.2
ManufacturiEnergy-intensive manufacturing31.34.05.4

Source: Statistics Norway

The decline in the electricity price may be seen in conjunction with a high supply of water from snow melting in the mountains and a large increase in filling level in the water reservoirs. At the end of week 40, the reservoir filling in Norway was 92.7 per cent, according to the Norwegian Water Resources and Energy Directorate (NVE). For the corresponding week last year, the filling was 78.4 per cent, while the median filling level in the period from 1990 to 2014 was 86.5 per cent. 

The overall average price of electricity for households, including grid rent and taxes, amounted to 72.9 øre per kWh in the third quarter. This is 14 per cent higher compared to the same quarter in 2014. The grid rent and taxes came to 26.0 and 26.9 øre per kWh respectively. 

Spot price cheapest and fixed price most expensive

Households tied to spot price contracts paid 17.2 øre per kWh on average, excluding grid rent and taxes, while the price of variable price contracts amounted to 25.3 øre per kWh. New fixed-price contracts lasting one year or less and new fixed-price contracts lasting one year or more totalled 31.5 and 31.2 øre per kWh respectively. Other fixed-price contracts amounted to 33.5 øre per kWh. 

Lower electricity prices for the service industry and manufacturing

The average price of electricity in the service industry was 18.1 øre per kWh, excluding taxes and grid rent, in the third quarter of 2015. This is 40 per cent lower than the price one year ago. In manufacturing excl. energy-intensive manufacturing, the average price amounted to 16.6 øre per kWh. This is 43 per cent lower compared to the same period last year. 

Increased prices for energy-intensive manufacturing

For energy-intensive manufacturing, the average price of electricity was 31.3 øre per kWh in the third quarter, excluding taxes and grid rent. This is 4 per cent higher compared to the third quarter in 2014. A large part of the electricity used in energy-intensive manufacturing is purchased through fixed-price contracts.