Electricity prices have been unusually low the past season, due to decline in demand for power resulting from economic recess in the world. Historically, the picture has been completely different. From 2012 to 2019, the electricity price for households increased by 43% - from NOK 0.8 / kWh to NOK 1.2 / kWh. The Norwegian Water Resources and Energy Directorate (NVE) expects electricity prices to remain at a high level, while the International Energy Agency (IEA) has calculated that Norwegian electricity prices will double by 2030. This is mainly a result of increasing carbon taxes on power production in Europe.
Norwegian households are strongly affected by electricity prices, as heating systems often use electricity. 70-80% of electricity consumption goes to heating and hot water.
Sirevaag Biokraftvarme AS wants to offer a solution that gives people predictable and low electricity prices - create a small power plant for each home - a cogeneration system that uses pellets.
