Electricity prices, Q2 2002

The relatively low prices of electric energy the 2^{n d} quarter this year compared to the 2^{n d} quarter last year can be explained by a higher price than normal for the season last year. The prices of electric energy usually have seasonally variations with lowest prices in the 2^{n d} and 3^{r d} quarter. But in 2001 there was an increase in the prices of electric energy from the 1^{s t} to the 2^{n d} quarter mainly because of low water reservoir levels.

In week number 19 this year, which was the measuring week for the 2^{n d} quarter, the water reservoir level was 41.5 per cent. In week number 19 in 2001 it only was 32.2 per cent. Median reservoir level for week number 19 in the period 1990 to 2000 was 36.7 per cent.

On average the prices of electric energy for households declined from 21.9 øre/kWh the 1^{s t} quarter this year to 16 øre/kWh the 2^{n d} quarter this year. This is a reduction of 26.7 per cent.

The grid rent was 21.4 øre/kWh value added taxes (VAT) excluded, according to Norwegian Water Resources and Energy Directorate. Total price of electric energy for households, inclusive of grid rent, VAT and tax on consumption of electric energy, was on average 56.3 øre/kWh the 2^{n d} quarter this year. Grid rent inclusive of VAT constitutes 45.8 per cent of this.

More stable prices of electric energy for manufacturing

For services the prices of electric energy was 15.2 øre/kWh the 2^{n d} quarter this year, taxes excluded. This is 19 per cent lower than in the 1^{s t} quarter this year and 21.4 per cent lower than in the 2^{n d} quarter last year. For manufacturing, exclusive of energy intensive manufacturing and pulp and paper industry, the reduction in the prices of electric energy in the 2^{n d} quarter this year was only 1.4 per cent from the 1^{s t} quarter this year and 3.1 per cent from the 2^{n d} quarter last year. This modest decline compared with households and services are mainly explained by many old fixed price contracts.

See also

Reservoir level

Electricity statistics

Tables:

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