Still high electricity price for households
The average price of electricity for households, excluding taxes and grid rent, was 55.2 øre per kWh in the first quarter of 2019. This is on the same high level as the two previous quarters.
In their quarterly electricity market report NVE (the Norwegian Water Resources and Energy Directorate) points out that the electricity price was very high in January and that shortage of energy in the hydro power system in the beginning of the year combined with higher prices on gas, coal and CO2 emissions contributed to the high price. In February and March electricity prices was lower compared to the first month of the year.
The overall price of electricity for households, including grid rent and taxes, was on average 124.3 øre per kWh in the first quarter of 2019, according to new figures from the electricity price statistics. This is 17 per cent higher compared to the first quarter in in 2018. Of this the price of electricity amounted to 55.2 øre per kWh, the grid rent 30.4 øre per kWh and taxes came to 38.7 øre per kWh.
Figure 1. Electricity prices, grid rent and taxes for households
|Grid rent||Taxes||Electricity price|
Contracts with variable prices were most expensive
Households with variable price contracts had the most expensive contract type in the first quarter of 2019 with an average electricity price of 63.6 øre per kWh, excluding taxes and grid rent. For households with contracts tied to the spot price, which is the most common type of contract (see figure 3), the average electricity price was 53.1 øre per kWh.
Figure 2. Price of electric energy for households, taxes and grid rent excluded. Q1 2019
|New fixed price contracts – 1 year or less||46.0|
|New fixed price contracts – 1 year or more||42.3|
|All other fixed-price contracts||34.6|
|Contracts tied to spot price||53.1|
|Variable price (not tied to spot price)||63.6|
Figure 3. Distribution of contract types. Q1 2019
|Fixed-price contracts||Contracts tied to spot price||Variable price contracts|
|Manufacturing excl. energy-intensive manufacturin||6.50||90.50||2.90|