Home > Statistics > Energy prices > 2014 > 3rd quarter > Prices of fossil fuels and electricity are still falling

Published: 17 December 2014

Prices of fossil fuels and electricity are still falling

The prices of fossil fuels and electricity continued to fall in the third quarter of the year. According to Statistics Finland’s data, the prices of domestic fuels in turn rose slightly compared with the corresponding period of the previous year.

Fuel Prices in Heat Production

Nordic water reserves were slightly below the average level in the third quarter. The system price of the Nordic electricity exchange derived from the sell and buy bids on the exchange was approximately 11 per cent lower than one year earlier. Due to electricity transmission restrictions, the Finnish area price remained 10 to 30 per cent higher than the system price but was still, on average, 11 per cent lower than last year. The prices for small users of electricity decreased by around one per cent. The prices for enterprise and corporate clients fell by around three per cent for the smallest consumers and by nearly six per cent for the biggest consumers.

The price of natural gas used in heat production fell by nearly three per cent and the price of coal by around one per cent, while the prices of milled peat and forest chippings rose by good one per cent from one year ago. The price of wood pellets used by consumers increased by around ten per cent.

The prices of motor gasoline and diesel oil started to fall by two to three per cent at the end of the third quarter. The price of light fuel oil went down by nearly seven per cent compared with the corresponding period of one year ago. The decrease in the prices of liquid fuels was also due to the fallen world market prices of crude oil, which has also pushed down the price of crude oil imported to Finland.

Source: Statistics Finland, Energy prices

Inquiries: Ville Maljanen 029 551 2691, 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 (17.12.2014)
• Appendix table 2. Energy prices in heat production in September 2014 (17.12.2014)
• Appendix table 3. Prices of heating energy in Juni 2014 (17.12.2014)

Figures

• Appendix figure 1. Import prices of oil (17.12.2014)
• Appendix figure 2. Consumer prices of principal oil products (17.12.2014)
• Appendix figure 3. Fuel prices in heat production (17.12.2014)
• Appendix figure 4. Fuel prices in electricity production (17.12.2014)
• Appendix figure 5. Price of electricity by type of consumer, c/kWh (17.12.2014)
• Appendix figure 6. Average monthly spotprices at the Nord Pool Spot power exchange (17.12.2014)

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Updated 17.12.2014