SSB: Electricity prices in Norway in the first quarter of 2021 were 37% higher than in the same quarter of last year

ElectricityPhoto: Heiko Junge / NTB
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The price of electricity in the first quarter of this year was very high compared with last year’s extra low prices. The peak was reached in the cold months of January and February.

The total electricity price for households, including taxes and grid rent, averaged 120 øre per kilowatt-hour in the first quarter of this year, Statistics Norway (SSB) writes.

That is 37% higher than in the first quarter of 2020, when electricity prices were lower than they have been in recent years. If one deducts the fees and grid rent, the electricity price was almost twice as high in the first quarter of this year. In the last ten years, the price of electricity has only been higher at the end of 2018 and the beginning of 2019.

In January and February, the average temperature in Norway was 3.3 and 2 degrees below normal, respectively.

Statnett, the state-owned enterprise responsible for owning, operating, and constructing the stem power grid in Norway, reduced its share of the grid rent by 24% compared with the previous year to help out electricity customers in Norway during the corona pandemic.

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

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