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Published: 22 June 2011

Energy prices rose

According to Statistics Finland, the rise in prices of domestic heat production fuels has been lower compared with imported fuels. The rise in excise duties and prices of fossil fuels has pushed up energy prices especially in heat production and traffic

Energy prices in heat production in March 2011

Corrected on 7 September 2011. The correction is indicated in red. Was previously 23.
Energy source	2) Price €/MWh	Annual change-%
Light fuel (VAT 23%)	109.1	47.9
Hard coal (VAT 0%)	31.6	98.3
Natural gas (VAT 0%	39.3	37.3
Forest chips (VAT 0 %)	18.5	-0.7
Wood pellet (VAT 23%)	52.8 1)	1.8
Household energy, K2 (VAT 23%)	152.3	18.2

1) The price for May.
2) The prices include excise duties.

The prices of transport fuels exceeded in May 2011 the peak prices of summer 2008. The consumer price of light fuel oil rose especially. The price of light fuel oil was raised by the increase in excise duties at the turn of the year. At the beginning of the year, the price of light fuel oil was over 50 per cent up year-on-year. The price of household electricity was up by around 20 per cent in the early part of the year.

The price of milled peat used in heat production was 20.1 per cent higher in the first quarter of the year than in the corresponding period of 2010. The price was pushed up most by the new energy tax. The price of forest chippings fell by 0.7 per cent from one year before. The price of consumer pellets was 1.8 per cent higher in May compared with the corresponding period of last year.

The price of coal used in separate heat production was nearly 100 per cent higher in March than one year earlier. In combined heat and power production the rise in prices was lower than for coal because of excise duties. Excise duties also raised the price of natural gas by nearly 40 per cent.

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 (22.6.2011)

Figures

• Appendix figure 1. Import prices of oil (22.6.2011)
• Appendix figure 2. Consumer prices of principal oil products (22.6.2011)
• Appendix figure 3. Fuel Prices in Heat Production (22.6.2011)
• Appendix figure 4. Fuel prices in electricity production (22.6.2011)
• Appendix figure 5. Price of electricity by type of consumer, c/kWh (22.6.2011)
• Appendix figure 6. Average monthly spotprices at the Nord Pool Spot power exchange (22.6.2011)
• Appendix figure 7. Price of forest chips (22.6.2011)

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Updated 22.6.2011