Record high electricity prices could cost Norwegian farmers an additional half a billion kroner

ElectricityPhoto: Jonathan Hanna / Unsplash
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The record high electricity prices in Norway could end up costing farmers up to half a billion kroner extra in electricity bills, according to Småbrukarlaget.

The Norwegian government doesn’t want to compensate farmers for the electricity price hike, newspaper Nationen writes.

The record prices have major consequences for farmers, who are incurring additional costs. 

“Our estimates show that the costs for electric power have increased by NOK 400 to 500 million more than what is assumed in the agricultural settlement,” Secretary-General Anders Nordstad of the Norwegian Farmers’ Association warned.

In July, the average price was the highest measured in the southernmost price areas in Norway, from the Hardangerfjord and southwards.

“It is likely that prices will be even higher in August,” communications director Stina Johansen in Nord Pool told Nationen.

Norway is divided into five price zones, and the average price in the southwest in July was 59.6 øre per kWh before taxes, VAT, and grid rent. The average in August so far amounts to 70.4 øre, according to Johansen.

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

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