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Thu, 18 Jun, 2015 12:07:00 AM FTimes Report, June 18  Fuel Prices in Heat Production. Source: Statistics Finland, Energy prices. Consumer prices of liquid fuels fell clearly in the first quarter of 2015, which was a consequence of the fallen world market price of crude oil, according to Statistics Finland’s data.
The price of electricity was also falling in the Nordic electricity exchange.
This was visible in lower prices of electricity for enterprise and corporate customers. Changes in tax rates raised the price of coal but decreased the price of milled peat in heat production.
The plunge of the world market price of crude oil that started in summer 2014 appears to have halted at the turn of the year.
The plunge has had an evident effect on the price of oil products imported to Finland as well. The consumer prices of liquid fuels have been clearly lower in the first quarter than one year earlier.
The prices of motor gasoline and diesel oil dropped by 13 to 14 per cent while the price of light fuel oil went down by 15 per cent as per the statistics.
The price of hard coal used in heat production went up in the first quarter by nine per cent year-on-year, owning to tax increases.
Despite tax increases, the price of natural gas in heat production fell by two per cent. The tax on peat decreased at the turn of the year, which contributed to the drop of ten per cent in
the price of milled peat.
The price of forest chips, in turn, went up by two per cent.
At the beginning of the year, the price of light fuel oil was, on average, two per cent higher than one year previously.
The price of wood pellets used by consumers decreased by around four per cent.
The system price of the Nordic electricity exchange derived from the sell and buy bids on the exchange was approximately seven per cent lower than one year earlier.
Due to electricity transmission restrictions, the Finnish area price remained almost 14 per cent higher than the system price but was still, on average, eight per cent lower than last year.
The prices of electricity for household customers remained on level with the year before, despite increases in electricity taxes.
The prices for enterprise and corporate customers fell by around three to five per cent for the smallest consumers and by five to eight per cent for the biggest consumers.
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