May 20, 2022

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Electricity prices hit a new year record on Tuesday

Electricity prices hit a new year record on Tuesday

It shows the statistics of the Power Exchange North Pool. Including phase rent and tariffs, the maximum cost is 8.22 kronor electricity per kilowatt hour.

Photo: Haiko Jung / NTB

On Tuesday electricity prices hit new annual highs, rising to an average of NOK 3.95 per kilowatt hour in southern and western Norway – before taxes and phase rent.

The daily price of NOK 3.95 per kilowatt hour on Tuesday will be approximately NOK 5.51 on electricity bills, including phase rent and charges.

The maximum price on Tuesday is between NOK 6.12 17 and 18. With phase rentals and charges, this would mean the customer at a price of NOK 8.22 per kilowatt hour. That means it costs 40.87 kroner to bathe for ten minutes with a “generous” shower head.

Deer electric car charging

If you choose to charge the electric car at the same time and have a home charger with 7 kW of power, you will have to pay 57 kroner for that hour.

– But there is no point in getting up at night to make coffee or plucking the wire in the refrigerator to save electricity, says the energy consultant at “Enova Answers” Trond Paasche.

He points out that the power consumption to heat a liter of water is about 0.12 kWh.

– Although the price of electricity is at an all-time high, a pot of coffee costs only one kroner, says Paske.

A 60 degree wash uses 0.8 kilowatt hours for full washing, while the dryer uses 2-3 kilowatt hours at a time. According to energy consultants, cooking is not expensive either.

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Most of the electricity in a normal family goes to heat the house and heat the water.

– When consumption and electricity prices are very high, try to avoid panel heaters running from early morning until 17 to 19, says Trond Paasche in “Enova answers”.

Energy crisis in Europe

In central and northern Norway, the average price for clean electricity is 64 øre per kilowatt hour on the same day – or NOK 1.2 with phase rent and tariff.

Electricity prices have always reached new highs this fall and winter, and analysts, among others, point to a dry weather background. In addition, there is an energy crisis in Europe with higher coal and gas prices, as well as higher prices for CO₂.

Think for a moment that this is the top

– The amount of air in the Nordics is very low tomorrow, only a quarter of normal. This helps to raise the price of electricity. In addition, there is high consumption, cold temperatures averaging five degrees Celsius, and low water flow, says Ole Tom Djupskås, energy analyst at Refinitiv to E24.

He points to high electricity prices in Germany and one reason for the Norwegian record price.

– It is now very expensive in Germany. When we have to use most of our potential in the Nordic region and try to export more fully, we do not manage to manage it all the time and then get prices close to the German level.

Djupskås thinks Tuesday’s prices will be the highest we’ve seen in a while.

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– During the holidays ahead of us, consumption is declining because the industry is closing. It will be even more exciting to see what happens in January. The reservoirs have less water, and the snow is lower than normal, so it may go against high prices in the first half of January.

Two posts in a row

This year’s earlier peak was reached on Monday, when the daily price of NOK 3.13 per kilowatt hour in southern Norway – before taxes and phase rent. With build rent and fees, the price is NOK 4.46 per kilowatt hour. That means a ten minute shower with a “generous” shower head Over 31 kroner during the most expensive period on Monday.

The most expensive hour in the south was Monday from 6pm to 7pm, when the price for clean electricity was NOK 4.6 per kilowatt hour – before taxes and phase rent.