Power Price means the same for Norwegians petrol price does for Americans. It is an established fact that the power will be cheap in our sometimes cold countries.
The last 10-15 years there are no prices that have created so much political uproar. But in recent years it has been quiet.
This is obviously the price of electricity has generally ranged comfortable under 30 cents per. kilowatt-hour (kWh) since the summer of 2011. Then the measured as monthly average of the Nordic power exchange, excluding all taxes and tariffs.
– Power supply has been good. There have been many mild winters and heavy precipitation. In addition, the Swedes have built much wind that has given access to new affordable power, also in the winter. These factors help to keep power prices down, says senior adviser Ellen Skaansar in Norwegian Water Resources and Energy Directorate (NVE).
Mild winters reduces inflationary pressures because demand is lower.
Saved NOK 1000
Last year was the price of the Nordic power exchange 24.8 / MWh on average, while in 2013 was 29.7 cents / kWh.
With a regular consumption of a detached of 20,000 kWh, this means that the actual current cost around 5,000 euros last year and around 6,000 million in 2013.
The power companies usually takes a levy on stock price or a fixed amount, or both to deliver publicly power. Moms, various taxes and grid comes so on top of this again.
It is also possible to select types of contracts where the price of power varies less with the stock price. But over time will exchange price pass the also for these types of contracts.
For apartments and townhouses, the average power consumption considerably lower than in a detached house, and electricity bill will be correspondingly lower.
Use no more
Flat electricity goes along with flat consumption over many years. The total consumption in January this year is about the same as in January 2010. The consumption in power-intensive industries has risen, while consumption among the other consumers have fallen almost as much on the five years.
Consumption outside energy intensive industries are temperature corrected NVE statistics, so that it becomes possible to compare consumption over time without annual fluctuations in the cold and mild weather disrupts numbers.
– Power consumption in pulp and paper have fallen sharply in recent years. Moreover, there are a number of factors that go in the direction of lower power consumption per. capita. Industry structure ends up, houses are better insulated and a greater proportion of the population lives in cities and towns, says Skaansar.
Continued low prices
Subsidised power development in great style in Norway and Sweden will contribute much new force into the Nordic market. This will contribute to continued low power prices in a long time.
On the Nasdaq OMX exchange traded force many quarters and years ahead. The price of future delivery of power clearly points in the direction of several years of low electricity prices. For the rest of 2015 is expected electricity around 23 cents / kWh (converted from prices in euros with 8.75 kroner. Euro ). For years up to 2020 is the expected power prices flat on roughly 25 cents / kWh.
It’s going to be quiet around electricity prices for many years.
Easy to check price
The Competition Authority has on its website a list of electricity price from different suppliers. Five of them takes no premium on the exchange rate, while premiums for the other vendors range from 0.78 cents / kWh to almost 6 cents / kWh.
With an annual consumption as average for a detached means each ear mark an additional annual electricity bill of 200 million, calculated before VAT. The difference between the cheapest and most expensive supplier of exchange force on the Authority sites are thus about 1,200 million in one year for a detached house.
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