Why energy prices in Norway will rise in December
Following a fall in prices in November and December, energy prices in Norway are set to return to the lofty heights that were giving households headaches earlier this year.
It’s unlikely to be a season of good cheer when it comes to energy prices in Norway this Christmas, as prices will rise sharply in December.
While the average price in November was 140 øre per kilowatt hour in November and around 132 øre in Oslo in October, consumers will have to pay considerably more in December.
Energy expert Tor Reier Lilleholt told the newspaper Bergens Tidende that households could expect to pay around 2 kroner per kilowatt hour, including fees after energy support has been deducted.
The high prices come despite plenty of rainfall, which replenished Norwegian hydroelectric reservoirs, and warmer weather leading to fewer people using heating.
Experts expect a cold snap in the Nordics throughout December, with the increased cold leading to higher energy consumption and prices.
“The forecasts say that we will have 14 days of really cold weather throughout the Nordics. The temperatures will be far below normal, and there will be no precipitation,” Sigbjørn Seland, chief analyst at Storm Geo Nena, told Bergens Tidende.
Additionally, as temperatures have dipped and precipitation is more likely to arrive in the form of snow rather than rain, filling levels for Norwegian reservoirs are unlikely to rise much further as rivers freeze and production slows.
Furthermore, high prices have recently been seen in parts of the country where power costs are typically lower.
In northern Norway Tuesday, which typically sees the lowest prices nationally, an average price of 2.12 kroner per kilowatt hour and a peak price of 5.03 kroner was recorded. The reason for the price hike was a cold snap.
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It’s unlikely to be a season of good cheer when it comes to energy prices in Norway this Christmas, as prices will rise sharply in December.
While the average price in November was 140 øre per kilowatt hour in November and around 132 øre in Oslo in October, consumers will have to pay considerably more in December.
Energy expert Tor Reier Lilleholt told the newspaper Bergens Tidende that households could expect to pay around 2 kroner per kilowatt hour, including fees after energy support has been deducted.
The high prices come despite plenty of rainfall, which replenished Norwegian hydroelectric reservoirs, and warmer weather leading to fewer people using heating.
Experts expect a cold snap in the Nordics throughout December, with the increased cold leading to higher energy consumption and prices.
“The forecasts say that we will have 14 days of really cold weather throughout the Nordics. The temperatures will be far below normal, and there will be no precipitation,” Sigbjørn Seland, chief analyst at Storm Geo Nena, told Bergens Tidende.
Additionally, as temperatures have dipped and precipitation is more likely to arrive in the form of snow rather than rain, filling levels for Norwegian reservoirs are unlikely to rise much further as rivers freeze and production slows.
Furthermore, high prices have recently been seen in parts of the country where power costs are typically lower.
In northern Norway Tuesday, which typically sees the lowest prices nationally, an average price of 2.12 kroner per kilowatt hour and a peak price of 5.03 kroner was recorded. The reason for the price hike was a cold snap.
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