According to Statistics Norway’s calculations, the price increase over the past year would have been 9.0% in August without the government’s electricity subsidy scheme.
That is 2.5% more than the actual rise in the consumer price index (CPI) from August 2021 to August 2022.
They believe there is reason to believe that the electricity subsidy itself has contributed to raising the price of electricity in the market since demand is higher than it would have been without the subsidy.
But the SSB writes that it is difficult to know to what extent the market price has been affected.
If there had not been a temporary reduction in the electricity tax, the price increase for electricity, including grid rent, would have been around 87% in the same period.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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