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Published: 19 June 2012

Energy taxes raised prices of transport fuels

According to Statistics Finland, rises in energy taxes and higher price of crude oil put up the prices of transport fuels in the first quarter of 2012. The increase in excise duty particularly influenced the price of diesel oil. In the early part of the year, diesel oil was nearly 20 per cent higher than one year previously. The price of coal used in production of electricity and heat started to fall.

Energy prices in heat production in March 2012

Energy source	1) Price €/MWh	Annual change-%
2) Hard coal (VAT 0%)	29.55	-6.4
Natural gas (VAT 0%)	46.06	17.3
Forest chips (VAT 0%)	18.73	1.5
Milled peat (VAT 0%)	13.12	5.1

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

Consumer prices of heating energy in May 2012

Energy source	1) Price €/MWh	Annual change-%
Light fuel (VAT 23%)	111.4	7.8
Household energy, K2 (VAT 23%)	150.3	-2.3
Wood pellet (VAT 23%)	51.3	-2.7
District heat, terraced house / low-rise block of flats (VAT 23%)	68.6	6.8

1) The price of district heat is from January 2012

From the beginning 2012, carbon dioxide tax was raised for motor petrol and diesel oil. Rises in energy taxes pushed up the prices of transport fuels in the first quarter. The raising of the value added tax made last year also had an impact on price changes. The price of diesel oil went up by nearly 20 per cent and the prices of motor petrol and light fuel oil increased by under ten per cent in a year. The consumer price of electricity went up by around two per cent, on average, in the first quarter compared with the previous year. The consumer prices of electricity started to fall after the first quarter. The price of electricity for manufacturing using under 2,000 MWh of electricity went up by around one per cent in a year. The prices for major users of electricity went down by around ten per cent in the first quarter compared with the year before. The system price of the Nordic electricity exchange was over 40 per cent and the area price for Finland was over 30 per cent lower than one year earlier. The water situation in the Nordic countries has remained good in the early part of the year. In Finland, over 40 per cent more hydro power was produced in the first quarter.

The price of milled peat used in heat production was five per cent higher in the first quarter of the year than in the corresponding period of 2011. Without the share of excise duty, the price of milled peat went up by six per cent in a year. The price of coal used in separate heat production went down by six per cent. The price of natural gas was over 17 per cent higher in heat production than one year earlier. In the first quarter, the price of forest chippings rose by 1.5 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 (19.6.2012)

Figures

• Appendix figure 1. Import prices of oil (19.6.2012)
• Appendix figure 2. Consumer prices of principal oil products (19.6.2012)
• Appendix figure 3. Fuel Prices in Heat Production (19.6.2012)
• Appendix figure 4. Fuel prices in electricity production (19.6.2012)
• Appendix figure 5. Price of electricity by type of consumer, c/kWh (19.6.2012)
• Appendix figure 6. Average monthly spotprices at the Nord Pool Spot power exchange (19.6.2012)

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Updated 19.6.2012