With an average price of 34 øre per kilowatt hour, Northern Norway is the only region in Northern Europe where electricity prices have actually increased this year.
While Norway and all other price regions in Northern Europe have reductions in electricity prices from 2022, the Nordics have seen an average price increase of 36 percent this year. Europowers An overview of electricity prices in Norway for 2023.
Electricity customers in price range NO4 do not pay value added tax, and the average price is much lower than in price ranges in southern Norway. But while electricity prices in eastern Norway fell by 65 percent from 2022 to this year, in the north it went in the opposite direction.
In eastern Norway, electricity customers paid an average of 76 øre per kilowatt hour throughout the year, down 118 øre from the previous year. Prices are roughly the same as 2021, but roughly double 2019, the last year considered a more normal year for electricity prices.
The second most expensive year
Bergen, price area NO5, was at the same level as eastern Norway. It was the second most expensive year for this part of western Norway.
NO2, for southern and south-western Norway, on the other hand, was more expensive and averaged 90 øre. For three of the four hours, electricity prices were above 70 øre per kilowatt hour, the threshold for receiving electricity support from the state.
– Europower writes that the price difference to the rest of southern Norway is greater than ever
It was very steep that year
In Central Norway, where Power Area is NO3, the average price this year is 44 øre per kilowatt hour. The price went up by a penny compared to 2022, but since electricity is traded in euros, it's still a bit lower. Trønder hasn't had electricity this expensive since the crisis year at 46.5 øre per kilowatt hour.
There were several instances where electricity prices were negative throughout the year in all electricity regions. This usually occurs when power consumption is low and large amounts of unregulated energy such as wind or solar energy enter the grid.
2022 is the year electricity prices drop beyond what was thought possible. A sudden and dramatic cut in Russian gas imports to Europe, combined with the war in Ukraine, has led to a widespread energy crisis and soaring gas and electricity prices.
As Norway is part of the European electricity cooperation with its 14 foreign cables, sky-high prices permeate the Norwegian market, mostly in the three southern price zones NO1 (Eastern Norway) and NO5 (Bergen), but especially in NO2 (Southern and Southwestern Norway) where many transmission cables are located. .
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