Spot prices of electrical energy in Norway fell by 15.6% in 2004 compared with the previous year, according to figures from the Norwegian Electricity Association (EBL). The average spot price stood at NKr24.47/MWh ($3.99/MWh) at the end of 2004 and Hurum Kraft is currently the cheapest electricity provider in Norway with a price of NKr0.289/kWh ($0.048/kWh).

However, with total consumption up 3.0% on 2003 and energy imports at all-time high, some 40% of Norway’s electricity suppliers plan to increase their prices in 2005. The price hikes mostly result from increased transport costs, according to the association.