Friday, January 28

The price of electricity turns up after a four-day fall

The electricity price becomes more expensive again on the first weekday of the year, after falling through the New Year weekend. In the south of the country, the price rises to 129.35 øre per kilowatt hour, while to the north there is an increase to 35.50 øre.

Electricity prices are rising across the country on the first weekday of the new year.


On Monday, the electricity price rises 14.9 øre to 129.35 øre the kilowatt hour in the south of the country, after falling to the lowest price in one month on Sunday, according to Nord Pool.

In comparison, the electricity price was 180 øre a week ago.

With grid rent and fees, this means that an electricity customer in the southernmost price areas will have to settle for paying around 162 øre per kilowatt hour on Monday.

Central and northern Norway will also receive increased prices, with an increase to 35.50 øre per kilowatt hour.

On 21 December, the electricity price set a new record with an average daily price of NOK 3.95 per kilowatt hour, excluding grid rent and fees, in southern Norway. Since then, prices have fallen considerably.

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December was the first month in which the state took 55 percent of the bill for electricity prices above 70 øre per kilowatt hour. This scheme will apply until March 2022.

The average price of electricity in December was 177 øre per kilowatt hour in southern Norway. This means that the state takes 73.65 øre from the bill after VAT has been included.

Minister of Finance Trygve Slagsvold Vedum (Sp) also promises that the government will do much more to bring electricity prices down.

He says he wants to keep the competitive advantage with lower power prices in Norway than in Europe, and national ownership of hydropower resources.

In the long term, he believes it is a matter of increasing production, and managing exports in a different way, without going into detail about how it should take place.

Corrected: The figures were incorrect when first published, but have now been corrected. E24 sorry.

Nord Pool’s prices can be found here

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