Sunday, January 16

Electricity prices continue to decline in the south

For customers in Central and Northern Norway, the price of clean electricity increases to 57.8 øre.


The electricity price on Monday will be NOK 1.79 in pure power price in southern and western Norway, according to recent figures from the electricity exchange Nord Pool, which determines the price one day in advance.

If grid rent, and taxes such as VAT are included, it will correspond to a price of NOK 2.80 on the electricity bill, before surcharges to the electricity companies. Even though the price of electricity is now falling from the record level, the price is still abnormally high. It is ten øre cheaper than on Sunday.

The daily price for electricity is 1.87 kroner for customers in southern and western Norway on the second day of Christmas. If grid rent and fees are included, it will correspond to a price of NOK 2.9 on the electricity bill, before surcharges to the electricity companies.

For customers in Central and Northern Norway, the price increases from 49 to 57.8 øre in pure power price. Including grid rent and fees, the price of the electricity bill will be 72.8 øre for these customers.

This autumn, the price of electricity has set several records, most recently on Tuesday when electricity in southern Norway cost NOK 3.95 on average without grid rent and fees.

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Analysts warn rise

Several analysts have announced a rise in electricity prices in January. They point to the temperature and wind as the most important factors in the rise in electricity prices, and the weather forecasts suggest that it will be “abnormally cold” also in January.

Olav Vilnes, editor of the news agency Montell, says that electricity customers in Oslo, Bergen and Kristiansand can expect about the same high electricity price in January.

– There will be a new record and December is already at a record high. Tromsø, Trondheim and Ålesund are significantly lower. We are talking about just under the krone per kWh. They get half the price of what southern Norway gets in January, he says.

Tor Reier Lilleholt, head of analysis at Volue Insight, also said on Saturday that there will still be a strained market in January.

– We are already in a strained situation. In January, there is an expectation in the market of more than four kroner per kilowatt hour in Germany, while we have an average for the Nordic region of about two kroner. Southern Norway will probably be another half a kroner above that in pure power prices, he says, and adds:

– With these weather forecasts, it can go even higher, because you do not meet resistance until you meet prices in Europe. You can not stop exports to Europe until prices are in line, says Lilleholt.

Falling towards summer

From the summer onwards, it fortunately looks brighter.

– From July onwards, prices are now below 50 øre per kWh, says Lilleholt, who advises people who are considering a fixed price to wait to commit to the summer. Alternatively, only commit for a maximum of six months now if you know that you can not handle today’s record high prices and want insurance against further price increases, Lilleholt told VG / E24 earlier this week.

– If the market does not change for southern Norway, there will be room to get one-, two- or three-year contracts for between 60 and 70 øre by the summer, he adds. He himself tied the electricity price of 34 øre in August.

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