Higher electricity prices in 2016
The average price of electricity for households in 2016, excluding taxes and grid rent, was 31.6 øre per kWh. This is 18 per cent higher than in 2015.
|4th quarter 2016||Change in per cent|
|Øre/KwH||Last 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 taxes||100.4||10.9||23.8|
|Households. Electricity price by type of contract. Exclusive taxes|
|New fixed-price contracts-1 year or less1||31.1||5.1||0.0|
|New fixed-price contracts-1 year or more1||29.9||-1.3||-3.9|
|All other fixed-price contracts||29.7||-0.3||-7.8|
|Contracts tied to spot price||36.6||25.8||51.2|
|Variable price (not tied to spot price)||40.6||18.4||37.6|
|Business activity. Electricity price. Exclusive taxes|
|Manufacturing excl. energy-intensive manufacturing||35.0||31.6||47.1|
The electricity price for households increased considerably in the course of the year. In the first quarter, households paid on average 28.7 øre/kWh for electricity, while in the fourth quarter the price was 37.6 øre/kWh. The higher electricity price may be seen in conjunction with the filling level in the Norwegian reservoirs. According to the Norwegian Water Resources and Energy Directorate (NVE), the filling level at the beginning of the year was at a record high, while at the end of year it was 5 percentage points below normal.
The overall average price of electricity for households, including grid rent and taxes, amounted to 91.8 øre per kWh in 2016. This is 12 per cent higher compared to 2015. The electricity price was 31.6 øre per kWh, and the grid rent and taxes came to 27.2 and 33 øre per kWh respectively.
New fixed-price contracts cheapest
Households tied to spot price contracts paid 30.2 øre per kWh on average, excluding grid rent and taxes in 2016, while the price of variable price contracts amounted to 35.2 øre per kWh. New fixed-price contracts lasting one year or less and new fixed-price contracts lasting one year or more totalled 28.5 and 29.0 øre per kWh respectively. Other fixed-price contracts amounted to 30.5 øre per kWh.
Higher electricity prices for service industries and manufacturing
For service industries, the price excluding grid rent and taxes increased by 18 per cent to 29.2 øre per kWh in 2016. For manufacturing excluding power-intensive manufacturing, the elspot price amounted to 28.7 øre per Kwh. This is 24 per cent higher than in 2015.
Most of the electricity sold to power-intensive manufacturing is sold through fixed-price contracts. The average price of electricity excluding taxes and grid rent was 30.4 per cent, a 1.6 per cent decrease compared to 2015.
The electricity prices mentioned in the article can be found in the annual series in StatBank.