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Published: 20 March 2012

Prices of energy continued to rise

According to Statistics Finland, prices of energy used in transport and heating increased in the last quarter of 2011. The 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 December 2011

Energy source	1) Price €/MWh	Annual change-%
2) Hard coal (VAT 0%)	31.97	73.4
Natural gas (VAT 0%)	44.64	39.9
Forest chips (VAT 0%)	18.52	1.3
Milled peat (VAT 0%)	12.83	21.5

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 December 2011

Energy source	1) Price €/MWh	Annual change-%
Light fuel (VAT 23%)	109.1	18.2
Household energy, K2 (VAT 23%)	154.2	11.8
Wood pellet (VAT 23%)	54.7	4.1
District heat, terraced house / low-rise block of flats (VAT 23%)	68.6	6.8

1) The price of wood pellet from November 2011 and the price of district heat from January 2012

The average price of motor gasoline for the whole year went up by nine per cent, that of diesel oil by 20 per cent and that of light fuel oil by nearly 38 per cent in 2011 from the previous year. The consumer price of electricity rose by around 14 to 19 per cent, on average, depending on the tariff. The system price of the Nordic electricity exchange and the area price for Finland were over ten per cent lower in 2011 than one year earlier. Improved water reserves in Norway and Sweden also lowered the price of electricity. Finland's water reserves were lower than average throughout the year.

The price of milled peat used in heat production was 22 per cent higher in the fourth 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 four per cent in the last quarter. 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 1.3 per cent from one year before. The consumer price of district heat was in January four to eight per cent higher, on average, than one year previously.

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 (20.3.2012)

Figures

• Appendix figure 1. Import prices of oil (20.3.2012)
• Appendix figure 2. Consumer prices of principal oil products (20.3.2012)
• Appendix figure 3. Fuel Prices in Heat Production (20.3.2012)
• Appendix figure 4. Fuel prices in electricity production (20.3.2012)
• Appendix figure 5. Price of electricity by type of consumer, c/kWh (20.3.2012)
• Appendix figure 6. Average monthly spotprices at the Nord Pool Spot power exchange (20.3.2012)

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Updated 20.3.2012