Norway energy storage power wholesale price

A paid subscription is required for full access. The average wholesale electricity price in Norway was at around 19 euros per megawatt-hour in August 2024. Norway's electricity prices reached a record high in August 2022, at 246 euros per megawatt-hour, the result of the global energy crisis and a drought that hit the country that summer.

The Norwegian government launched a temporary electricity support package for households from December 2021. From the 4th quarter of 2021 and onwards, data on average electricity support is included in the electricity price statistics.

End users in Norway can freely choose their power supplier. The Norwegian Consumer Council in cooperation with the Norwegian Water Resources and Energy Directorate established the web site strømpris.no, which provides an overview of prices and gives consumers the opportunity to switch suppliers.

All counties in Norway have the same tax rate for the consumption of electricity, apart from some parts of Troms and the whole of Finnmark, which are exempt. The Enova tax was 1 øre/kWh in 2021 and is the same for all households throughout the country. VAT is added after electricity price, grid rent and other taxes have been added.

Norway's electricity prices reached a record high in August 2022, at 246 euros per megawatt-hour, the result of the global energy crisis and a drought that hit the country that summer. Throughout 2021 and 2022, figures in the Nordic country soared, causing an almost three-fold increase in the prices over the course of the year.

The market price of power, which is determined each day on the Nord Pool Spot power exchange, is a result of supply and demand. Norway is part of a common Nordic power market and is integrated with the power market in Europe. The Energy Act of 1990 provided for the liberalisation of the power market.