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Recovering from the pandemic and Russia's attack on Ukraine led to steep rises in energy commodity prices

release | Energy prices 2022, 3rd quarter

Change

Datanase tables Day-ahead prices of the Nordic power exchange (12gc) and Price of Electricity by Type of Consumer (12gv) are no longer updated.
Read more about the change

In the third quarter of 2022, the price of was an average of 40 to 60 per cent higher than one year ago. According to Statistics Finland, prices went up most for households consuming little electricity and least for households living in electrically heated houses. The running costs of oil-heated homes also rose clearly, because heating fuel oil cost 68 per cent more than one year earlier.

The time series from the year 2015 to October 2022 on changes in the price of purchased energy for a detached house by heating mode. The price of district heat has risen least during the period. The price of light fuel oil has been close to the price of district heat, but it fast rose past the price of electricity at the beginning of 2022. In October 2022, the price of light fuel oil per megawatt was the same as that of electricity and the price of district heat was one-half of that.

Key points

  • The area price for wholesale electricity in Finland tripled in the third quarter of 2022 compared to  the price one year ago.
  • Consumer prices of electrical energy rose by an average of 40 to 60 per cent in the third quarter of 2022 from one year ago. The price of electricity went up most in households consuming little electricity and least in households heating their homes with electricity.
  • The prices of petrol and diesel fell by six to seven per cent from the summer peak prices in the third quarter of 2022. 
  • The tax-free prices of natural gas and hard coal increased 3.5-fold in the third quarter of 2022 compared to one year ago. 

Change

Datanase tables Day-ahead prices of the Nordic power exchange (12gc) and Price of Electricity by Type of Consumer (12gv) are no longer updated.
Read more about the change

Database tables

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Updated database tables
12ge
Classifications used:
  • Fuel
Period:
quarter
Statistics:
Updated:
13rb
Classifications used:
    Period:
    quarter
    Statistics:
    Updated:
    12gd
    Classifications used:
    • Type of consumer
    Period:
    quarter
    Statistics:
    Updated:
    13nl
    Classifications used:
      Period:
      month
      Statistics:
      Updated:
      12hf
      Classifications used:
      • Type of consumer of natural gas
      Period:
      quarter
      Statistics:
      Updated:
      12gw
      Classifications used:
      • Type of consumer of natural gas
      Period:
      quarter
      Statistics:
      Updated:
      12he
      Classifications used:
      • Price of coal
      Period:
      quarter
      Statistics:
      Updated:
      13p7
      Classifications used:
        Period:
        month
        Statistics:
        Updated:
        12gb
        Classifications used:
        • Domestic fuel
        Period:
        quarter
        Statistics:
        Updated:
        Removed database tables

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        Service email
        energia@stat.fi
        Marianne Rautelin
        Senior Statistician
        029 551 3421
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        Head of Department in charge