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Published: 15 December 2011

Prices of energy continued to rise

According to Statistics Finland, prices of energy used in transport and heating went up significantly in the third quarter of this year. Prices of fuels used in heat production went up most. The price of coal rose by over 70 per cent and that of natural gas by nearly 40 per cent. The prices of domestic fuels went up less than the prices of imported fossil fuels.

Energy prices in heat production in September 2011

Energy source	1) Price €/MWh	Annual change-%
2) Hard coal (VAT 0%)	30.91	71.8
Natural gas (VAT 0%)	44.60	39.3
Forest chips (VAT 0%)	18.27	1.1
Milled peat (VAT 0%)	12.53	22.7

1) Inclusive of excise duties. The prices of forest chips and milled peat are from the second quarter.
2) The prise is preliminary.

Consumer prices of heating energy in September 2011

Energy source	1) Price €/MWh	Annual change-%
Light fuel (VAT 23%)	106.8	35.7
Household energy, K2 (VAT 23%)	155.3	14.8
Wood pellet (VAT 23%)	54.7	4.1
District heat, terraced house / low-rise block of flats (VAT 23%)	65.59	12.6

1) The price of wood pellet from November and the price of district heat from July

The price of motor gasoline was an average of ten per cent and diesel oil nearly 20 per cent higher than in the third quarter of one year before. The consumer price of electricity was around 14 to 18 per cent higher, on average, depending on the tariff. The prices of the electricity exchange fell considerably, but it was not visible in the consumer prices of electricity. The system price of the Nordic electricity exchange was over 20 per cent lower than one year ago. The area price for Finland was close on ten per cent lower than one year before. Improved water reserves in Norway and Sweden lowered the price of electricity. Finland's water reserves were smaller than average in the third quarter.

The price of milled peat used in heat production was 23 per cent higher in the third quarter of the year than in the corresponding period of 2010. Without the share of excise duty, the price of milled peat went up by 4 per cent in a year. The change in excise duties at the turn of the year had a considerable effect on the rise in energy prices. The price of coal used in separate heat production was over 70 per cent higher and that of natural gas nearly 40 per cent higher than one year previously. The price of forest chippings rose by 1.1 per cent from one year before. The price of consumer pellets was 4 per cent higher in November compared with the corresponding period of last year.

Source: Statistics Finland, Energy prices

Inquiries: Pentti Wanhatalo (09) 1734 2685, energia@stat.fi

Director in charge: Leena Storgårds

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Appendix tables

• Appendix table 1. Energy taxes, precautionary stock fees and oil pollution fees (15.12.2011)

Figures

• Appendix figure 1. Import prices of oil (15.12.2011)
• Appendix figure 2. Consumer prices of principal oil products (15.12.2011)
• Appendix figure 3. Fuel Prices in Heat Production (15.12.2011)
• Appendix figure 4. Fuel prices in electricity production (15.12.2011)
• Appendix figure 5. Price of electricity by type of consumer, c/kWh (15.12.2011)
• Appendix figure 6. Average monthly spotprices at the Nord Pool Spot power exchange (15.12.2011)
• Appendix figure 7. Price of forest chips (15.12.2011)

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Updated 15.12.2011