Energy prices: documentation of statistics

The statistics on energy prices provide data on the main energy and energy product prices, as well as on energy taxes and tax-like payments.

The statistics include data on the prices of renewable and fossil fuels, electricity prices paid by household and corporate customers in Finland, and on the share of excise and VAT related to energy sources, as well as of tax-like payments in consumer prices.

Fuels in energy production:
•    The price of hard coal is derived from Customs’ import data broken down by CN code.
•    From 2021 onwards the price of natural gas is based on Statistics Finlands data collection consumption band over 1 111 111 MWh. Up till the end of 2019 the price was based on the Energy Authority's user type T8.
•    The price of forest chips is based on data collected by the FOEX on forest chip transactions made by enterprises.
•    Statistics Finland collects the price of peat through an inquiry aimed at peat producers and users. The collection duty was transferred to Statistics Finland in 2019 from the Bioenergy Association of Finland.

Electricity market price:
•    The electricity market price is the price published by Nord Pool for the Elspot market. Approximately 75 per cent of the electricity used in Finland passes through this market.

Consumer prices of liquid fuels:
•    The prices of motor gasoline, diesel fuel and light fuel oil are based on Statistics Finland’s data collection for the consumer price index. Prices are collected from liquid fuel distribution stations.

User prices of electricity and natural gas (enterprise and consumer prices):
•    The Energy Authority publishes electricity and natural gas prices for different types of customers, some of which represent enterprises and some consumers. The price is calculated for the specified customer based on all public tariffs.

User prices of district heat (enterprise and consumer prices):
•    Finnish Energy (ET) publishes district heat prices for different types of customers. The price is calculated for the specified customer type based on the data in the district heating statistics.

Data are produced on the following: fuel prices in energy production; wholesale electricity market price; user prices of electricity, district heating and natural gas; consumer prices of liquid fuels.

c/kWh
€/MWh
€/t
€/1,000 m3 (0℃)
c/l
c/kg
Annual change, %
Quarterly change, %
Tax rate, %

The reference period of the statistics is a quarter and a month.

For energy production, enterprise and consumer prices, the reference area is Finland.

Statistics Finland’s fuel classification contains 39 categories, each of which has three levels. The classification describes the fuels used in energy production and industrial processes and their properties, such as calorific values and emission factors.

The statistics on energy prices are based on the following fuels used in energy production: hard coal (1212), natural gas (1311), milled peat (211), sod peat (212) and forest chips (3112, 3113, 3114). These fuels account for 60 per cent of all fuels used in power and heat production, ranging from 45 to 75 per cent depending on the year.

The electricity market price is best illustrated by the regional price of the Nord Pool exchange for Finland. Around 75 per cent of the electricity used in Finland passes through Nord Pool’s day-ahead market.

In addition to fuels, enterprises and consumers buy electricity and district heating. Among consumer fuels, the most important are motor gasoline, diesel fuel and light fuel oil. The price of natural gas, electricity and district heat is published by type of consumer.

Fuels in energy production:
•    Coal and natural gas: from 1998 onwards
•    Forest chips, milled peat and sod peat: from 1999 onwards

Electricity market price:
•    From 1997 onwards

Enterprise and consumer prices:
•    Motor gasoline, diesel fuel and light fuel oil: from 1988 onwards
•    Electricity user prices: from 1992 onwards
•    User prices of district heat in type buildings:
     -    type building definition 1 from 1996 to 2010
     -    type building definition 2 from 2010

•    Natural gas prices
     •    Energy Authority’s type user prices from 2001 to 2019
     •    Statistics Finland’s collection – starting from spring 2021

•    Motor gasoline, diesel fuel and light fuel oil: from 1988 onwards

The data are published quarterly around 10 weeks after the end of the quarter.

The quality assessment of the statistics on energy prices is based on an assessment of the magnitude of changes in the time series. The data are mainly derived from completed statistics, and the producers of those statistics are responsible for ensuring the quality of the data collected.

The whole set of statistics has been published without delay. For individual price information, obtaining the data by the date of publication has not always been possible due to changes in the system of the data provider, for example.

The statistics on energy prices serve national needs and the definitions used differ from those of Eurostat. For example, the consumer prices of electricity reported to Eurostat according to the size of consumption are collected from large energy sellers by consumption category, while prices by consumer type published by the Energy Authority are used in the statistics on energy prices.

International comparisons should be made using the prices published by Eurostat and the IEA.

When the data content changes clearly, the data are differentiated into a specific variable.

In the case of district heat, natural gas and electricity prices calculated for different consumer types, there have been no major changes in the natural gas and district heat markets, so the time series describe well the development up to 2020.


The liberalisation of the natural gas market at the beginning of 2020 caused a break in the price series of natural gas. It is still too early to assess the extent to which the data provided by the new data collection are consistent with previous series.

The liberalisation of the electricity market in the mid-1990s has changed the market logic and the share of electricity sold by tariffs subject to the obligation to supply has decreased and user prices are no longer representative in the way they were before the market was liberalised. In the case of enterprises, in 2007, prices subject to the obligation to supply were replaced in the statistics with prices collected by Statistics Finland.

The sources for price data on fuels used in energy production:
•    hard coal: international trade statistics of Finnish Customs
•    natural gas: from 2021 onward Statistics Finland's data collection, up till 2019 natural gas prices published by the Energy Authority
•    forest chips: FOEX Indexes Oy
•    peat: own data collection by Statistics Finland from 2019 onwards; data of the Bioenergy Association Finland up to 2019
The source for wholesale electricity market prices is Nord Pool.
The sources for user prices:

• electricity:
  • consumer prices: prices subject to the obligation to supply published by the Energy Authority for different consumer groups
  • prices for corporate customers: own data collection by Statistics Finland
• district heat: prices published by Finnish Energy (ET) for different user groups
• natural gas: from 2021 onward Statistics Finland's data collection, up till 2019 Energy Authority
• consumer prices of liquid fuels: own data collection by Statistics Finland

The data collection method varies by energy product. More detailed information about Statistics Finland’s own data collection can be found in the documentation of the consumer and producer price indices, and in the case of other energy products, directly from the data producer.

Some of the data are collected monthly, some quarterly. District heat prices are only available twice a year.

The method of data validation varies by energy product. Information about Statistics Finland’s own data collection can be found in the documentation of the consumer and producer price indices, and in the case of other energy products, directly from the data producer.

Statistics Finland

Economic statistics

Statistics Finland is obliged to report energy statistics to the IEA, which is an organisation within the OECD framework.

It is not possible to identify a single respondent from the statistics.

 

Statistical data are published as database tables in the StatFin database. The database is the primary publishing site of data, and new data are updated first there. When releasing statistical data, existing database tables can be updated with new data or completely new database tables can be published.   

In addition to statistical data published in the StatFin database, a release on the key data is usually published in the web service. If the release contains data concerning several reference periods (e.g. monthly and annual data), a review bringing together these data is published in the web service. Database tables updated at the time of publication are listed both in the release and in the review. In some cases, statistical data can also be published as mere database releases in the StatFin database. No release or review is published in connection with these database releases. 

Releases and database tables are published in three languages, in Finnish, Swedish and English. The language versions of releases may have more limited content than in Finnish.   

Information about changes in the publication schedules of releases and database tables and about corrections are given as change releases in the web service. 

Revisions – i.e. improvements in the accuracy of statistical data already published – are a normal feature of statistical production and result in improved quality of statistics. The principle is that statistical data are based on the best available data and information concerning the statistical phenomenon. On the other hand, the revisions are communicated as transparently as possible in advance. Advance communication ensures that the users can prepare for the data revisions. 

The reason why data in statistical releases become revised is often caused by the data becoming supplemented. Then the new, revised statistical figure is based on a wider information basis and describes the phenomenon more accurately than before.

Revisions of statistical data may also be caused by the calculation method used, such as annual benchmarking or updating of weight structures. Changes of base years and used classifications may also cause revisions to data.

The quality assessment of the statistics on energy prices is based on an assessment of the magnitude of changes in the time series. The data are mainly derived from completed statistics, and the producers of those statistics are responsible for ensuring the quality of the data collected.

Quality management requires comprehensive guidance of activities. The quality management framework of the field of statistics is the European Statistics Code of Practice (CoP). The quality criteria of Official Statistics of Finland are also compatible with the European Statistics Code of Practice. 

Further information: Quality management | Statistics Finland (stat.fi)