Steep rise in electricity prices in 2016

Power line electricityPower line. Photo Norway Today Media

The average electricity price for households increased by 18% last year, a considerable rise compared to 2015. The average price was 31.6 per kilowatt, before taxes and grid-rental, according to figures from Statistics Norway (SSB).

In the first quarter, households averaged 28.7 per kilowatt of power, while the price in the fourth quarter were increased to 37.6 per kilowatt.

The increases could be seen in the context of developments in the water levels in the Norwegian reservoirs over the same period, according to Statistics Norway.

Including taxes and grid-rental, the total price of electricity last year went up, on average, to 91.8 per kilowatt. That’s 14%t higher than in 2015.
The figures also show that last year, unlike previous years, there were cheaper fixed-price agreements.

Fixed-price agreements were between 28.5 and 30.5 per kilowatt on average, depending on the length of contracts, while the spot price (elspotprisen) average was 30.2 per kilowatt. For variable contracts, households paid 35.2.

Over 70% of the power sold to households was sold via contracts associated with the spot price, which is normally the cheapest on average over the whole year.


Source: NTB scanpix / Norway Today