Norwegian households save 20 billion Norwegian kroner through fixed electricity price
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The Norwegian government reported that households and holiday homes saved 19.8 billion Norwegian kroner through a fixed electricity price scheme called norgespris.
Energy Minister Terje Aasland stated that the program provided predictable electricity bills and financial security for citizens during a period of fluctuating power prices. Current contracts for the norgespris scheme expire on December 31, 2026. Residents who want to continue using the fixed price must actively reorder the service starting January 5, 2027.
The government currently proposes increasing the fixed rate from 40 øre per kilowatt hour to 45 øre per kilowatt hour, though this remains subject to final budget negotiations next month. The government recorded over 1.95 million norgespris contracts as of October 23. The scheme has been particularly popular in Southwest Norway, where 79 percent of households and 84 percent of cabins have signed up.
While the fixed price is less common in Northern Norway due to lower local prices, it has generally been cheaper than spot prices in Central Norway. Customers who do not choose the fixed price receive a different form of electricity support that covers 90 percent of the cost when spot prices exceed 77 øre per kilowatt hour.
