Tuesday, 23 January 2018
Summing up the electricity situation in 2017 gives an indication of a world in change. The climate change forms a backdrop for higher production, higher consumption, and higher prices.
Despite a relatively mild winter and increased electricity prices, consumption of electricity in Norway has never been higher than in 2017. In total, electricity consumption in Norway was 132.9 TWh in 2017, up 0.6 TWh compared to 2016. This is likely due to population growth, increased consumption in power-intensive industries, more data centers, and the increasing use of electric vehicles.
The price increase is primarily due to cut in coal production in China. In 2016, the annual coal production dropped by 60 million tons in China, implying that China is increasingly dependent on import of coal from Europe. This again makes it more expensive to produce electricity in Europe, and since Norway is part of the ...