Norway household electricity prices increase 35% in 2Q18

24/09/2018 09:30 Electricity Market


The average price of electricity for Norwegian households excluding taxes and grid rent increased by 35 percent in the second quarter of 2018, compared to the same period of last year, according to the Statistics Norway (SSB) on Monday.

The SSB said that the overall price for households, including grid rent and taxes, was 16 percent higher compared to the second quarter in 2017.


The rise in electricity prices in the 2nd quarter of 2018, compared with the previous year must be seen in light of little inflow of water to the Norwegian water reservoirs and increased fuel prices which increased the price of imported electricity according to Norwegian Water Resources and Energy Directorate (NVE).


Norway is one of the leading countries that meets its most of its electricity consumption by hydroelectric power generation, which is around more than 90% of total electricity production.


According to the SSB, households with old fixed-price contracts had the cheapest contract type in second quarter of 2018.


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