Statistics Norway: The electricity price is more than twice as high as normal

Electricity prices in the third quarter were more than twice as high as normal in the last five years, according to Statistics Norway (SSB).

The average electricity price for households was 76.3 øre per kilowatt-hour before taxes and grid rent were included, according to the SSB.

The total electricity price for households was on average 147 øre per kilowatt-hour – 50% above the average level in the third quarter of the last five years.

According to the Norwegian Water Resources and Energy Directorate (NVE), the sharp rise in prices in the south of the country this autumn is due to low levels in the reservoirs and very high power prices in large parts of Europe.

There was a slight decrease in the grid rent after Statnett reduced its share of the grid rent by 24% this year to remedy the situation for electricity customers who are struggling financially due to the corona pandemic.