Despite electricity subsidies, winter in Norway will be extremely expensive this year

ElectricityPhoto: Jason Richard / Unsplash

Due to new electricity price records, winter in Norway will be very expensive despite the government’s support schemes.

Norwegian Broadcasting (NRK) has compared today’s electricity price level with the last five winters.

In Southern Norway, the average for December, January, February, and March is approximately 35 øre per kilowatt-hour. That is only a fifth of the price in the region up to this date in December of 2021.

The price has averaged 1 krone and 81 øre on the power exchange Nord Pool (up to December 27). 

Even though the state will cover just over half of the bill over 70 øre, the electricity still costs 1 krone and 50 øre per kilowatt-hour, including VAT.

If December prices continue, a house that uses 27,000 kilowatt-hours a year and consumes 3,280 kilowatt-hours in December will thus, for the four winter months of 2021, have a total electricity bill of almost NOK 13,000 more than the average of the previous five winters. 

However, an average Norwegian household uses less electricity than in this example since many small apartments are included in the average, barely use 16,000 kilowatt-hours a year. They will get an extra price of around NOK 7,500.

“We will follow the situation closely throughout the winter to see if there will be a need to make changes to the temporary support schemes,” Minister of Petroleum and Energy Marte Mjøs Persen (AP) said.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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