Lower operating profit for power plants
The operating profit in the power industry came to NOK 30.5 billion in 2011; a decrease of 19 per cent compared with 2010. This may be seen in conjunction with lower electricity prices.
|2010 - 2011|
|Production, total||127 632||100.0||3.2|
|Hydro power production||121 553||95.2||3.8|
|Thermal power production||4 795||3.8||-14.4|
|Wind power production||1 283||1.0||46.0|
|Total consumption||114 275||100.0||-5.2|
|Power intensive manufacturing||34 854||30.5||-0.2|
|Mining and extraction||6 138||5.4||0.1|
|Manufacturing excluding power intensive manufacturing||7 840||6.9||-3.6|
|Various supply and remidiation activities||1 726||1.5||-8.2|
|Transportation and storage||1 647||1.4||-6.1|
|Construction and other services||24 005||21.0||-6.8|
|Private households and agriculture||38 064||33.3||-9.3|
Production plants had the highest operating profit in 2011, with NOK 24.8 billion. The operating profit of grid companies amounted to NOK 2.9 billion, whereas the operating profit of remaining plants totalled NOK 2.8 billion.
Annual profit in the power industry came to NOK 15.2 billion in 2011. This is a drop of 30 per cent compared with the previous year.
Rise in gross investments
The gross investments (purchases minus sale of fixed assets) in the power industry rose from NOK 11.8 billion in 2010 to NOK 14.4 billion in 2011. Gross investments in hydro power plants came to NOK 3 919 million, whereas gross investments in thermal power plants and wind power plants were NOK 18 and 1 491 million respectively. Investments in wind power were slightly more than twice that of 2010. Investments in central grid systems, regional grid systems and local grid systems were NOK 1 493, 1 032 and 3 462 million in 2011 respectively.
Higher electricity generation
Electricity generation totalled 127.6 TWh in 2011; an increase of 3 per cent compared with 2010. Norway’s exports of power came to 14.3 TWh in 2011, while imports totalled 11.3 TWh. This gave a net export of 3.0 TWh.
Lower electricity consumption
There was a decline of 5 per cent in total net electricity consumption from 2010 to 2011 and the consumption totalled 114.3 TWh. The decrease may be seen in light of the warmer weather in 2011.
Decrease in electricity prices for households
Households’ total electricity bill consists of power price, grid rent and public taxes. The total price for households fell from 87.4 øre/kWh in 2010 to 84.2 øre/kWh in 2011, excluding VAT. Power price, grid rent and consumer tax were 44.5, 28.8 and 10.9 øre/kWh respectively.