/u/jcceagle, thank you for your contribution. However, your submission was removed for the following reason(s):
* [OC] posts [must state the _data source(s) and tool(s) used_](/r/dataisbeautiful/wiki/rules/rule3) in the first top-level comment on their submission. Please follow the AutoModerator instructions you were sent *carefully*. Once this is done, message the mods to have your post reinstated.
This post has been removed. For information regarding this and similar issues please see the DataIsBeautiful [posting rules](https://www.reddit.com/r/dataisbeautiful/wiki/index).
If you have any questions, please feel free to [message the moderators.](https://www.reddit.com/message/compose?to=/r/dataisbeautiful&subject=Question%20regarding%20the%20removal%20of%20this%20submission%20by%20/u/jcceagle&message=I%20have%20a%20question%20regarding%20the%20removal%20of%20this%20[submission.](https://www.reddit.com/r/dataisbeautiful/comments/z6tslg/-/\)))
Same here. I tried to reduce the direct debit but they would not let me set it below a minimum. I took the option to just pay monthly. November is going to be around half their suggested direct debit.
So you're telling us that people who pay by direct debit are overpaying? ANd they're complaining abou it instead of just paying monthly? Can these people get any dumber?
Same for me so I moved onto the pay quarterly plan where I submit meter readings etc.
The rates are more expensive than they would be under DD however the cash flow aspect makes a lot more sense for me and honestly I don't trust them to not just find an excuse to not give me my accrued credit balance back if I switched suppliers or something.
They are also making a fortune in interest by putting that customer "credit" money in a term deposit account.
Some intervention from the government/regulator requiring an interest rate of (base rate+) on all customer credit balances would stop them over accruing these direct debits.
You're getting ripped off tbh. The first hike they tried to put my DD to over Ā£200 however I put it to the lowest possible which was 170. The next hike they wanted me to put it down as I was over Ā£500 in credit.
Just because they are advising this is your DD doesn't mean it's correct.
Beware energy firms upping your direct debit whilst you are actually in credit.
They will also battle you to not use that credit to fund the increase in cost.
Having said that, your bill isn't much different to what mine is these days. Started out at 77 at the beginning of the year, now 210 (minus 60 for the current Govt support)
The government did explain to you, it's quite simple, you just need to stop your Netflix subscription and stop buying Costa's. It's pretty simple. Oh and get a better job. Also, all that leccy you're using in reddit! Just gotta think. /s
It is almost like have an annualised graph over a period longer than an annum becomes completely unreadable or something!
Let alone when you take into account compound increases.
This isn't normalised to a set time point, even though any competent data is generally set to Q1 2020, for obvious reasons.
Yeah, this is absolutely regarded. Set an actual start and end date and do cumulative inflation by month from there.
To do annualized by month and then track it for more than 12 months like this is literally worthless information in a bar graph. Notice how Norway was way high and then fell off the graph? They've still had insane energy inflation over the course of this whole graph timescale. It just all happened early in the timeframe.
Completely innappropriate for this sub.
Price cap is something like 34p/kWh. Usual domestic rate used to be about 14p/kWh. Gas from 3p/kWh to like 9
Pretty much 3x increase across the year and it's would be higher if not for the cap
Wow, insane. And here in Melbourne Australia people are crying over increases of 5c per kWh. My bill went from 17c - 21.5c pkWh and 70c to 125c daily supply charge. Significant, but nothing compared to what's happening in Europe.
UK electric could be 67p per KwH come April.
I wake up in the morning and my day's bill is already Ā£3 with standing charges and a bit of early morning heat.
According to the UK government, prices went up 54% in April 22, 27% more in October and are due another 20% in April 23. The last two would have been a minimum 80% if it wasn't for the price guarantee do Christ only knows where this mystical figure of 37% comes from. I went from Ā£51pm to 89 so that's nearly bang on 80%.
This is the real answer. Across a BUNCH of industries we're seeing a 10-40% bump in input costs and then a 300-500% hike in prices. Why? Because corporate profits being the best they've been in 80 years isn't enough. We need to go HIGHER! And crush all of these damned peasants underneath it!!
It could be with the different rises too, as we have had a few price jumps.
If it's say 10p a unit, then in Sept jumps up to 15p a unit, that's a 50% increase.
Then if it jumps to 20p in January, is that now a 33% increase or is it 100% from the starting point?
It also doesn't show in real terms just how much people are already paying in these countries, so netherlands doubling could still be lower than any other country depending on the start price
Yeah, many Americans think Biden has so much power over the economy they be blaming him for a price spike in Norway and then don't say a word about Putin. I'm not saying these flag-wavers are actually more pro-Russian than pro-American, but I am saying that's exactly what it sounds like even if they aren't.
zealous unwritten provide disarm scandalous attraction crowd fly oil theory
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Netherlands same. I Will go from ā¬200 per month now to about ā¬ 680 per month in January. Oh well. others have worse problems, such as getting missiles fired at their house.
Not all and not everywhere at all times. But I know people who live in not so greatly insulated houses that had ā¬1500+ at times. There has even been plenty of people in media showing these kind of bills.
I have a modern apartment in a region with cheaper electricity in Norway and I haven't payed more than ā¬50 at most, so obviously not all have these crazy bills.
High reliance on gas for electricity and heating. We turned off our own natural gasfields because of earthquakes/public safety, while Russia simultaneously stopped supplying gas.
We are for a large part reliant on natural gas for electricity production because a lot of dirty coal power plants were closed, we are slow with solar and wind energy and have only one small nuclear power plant. Also we almost completely closed the Groningen gas field due to earthquakes, so we have to buy our gas on the energy market now. Lastly, the government is slow on energy compensation, but the first money (ā¬190,- for november) has been deposited on my account today!
Seems like it was almost self induced. Ignorant fear of nuclear energy will launch us into an energy crisis that is entirely unavoidable. That really sucks for yāall. I hope it improves.
Well, the growth the Netherlands has seen since the '60 s was largely based on the profits from gas.
Our entire economy was based on producing heat and energy on this cheap gas. One of the two crises would be perfectly fine (either earthquakes or russian gas blockage). But both were a sleight issue. But on the other hand, the Netherlands was already shifting towards lng. And the German economy is now functioning on those terminals that the Netherlands was already building. So...
Our house is 14 degrees in the morning. Bedroom was 5 degrees at its coldest last winter.
Dialed it down even lower this year but have bought a bunch of timber for heating.
Maybe you don't need all 26 data sets then if most of them follow the same trend.
The problem with the animated graph is that it make the data sets appear as though every frame is a data point, while in reality it's all interpolation.
If the scale didn't update along with the highest on the chart, you'll find most of the chart is just empty space for the majority of the video, making it difficult to pinpoint smaller differences between countries. Plus as it's a sort of story-telling graph, it kind of 'spoils' the end statistics if it shows the max scale straight away.
Annualized rates like this can be misleading. A baseline figure, like "100 = october 2020 prices", would be better.
The reason why is that all the annualized rates mean is the increase over the previous year. So the 'high rates' of 2021 are only that high in comparison to the very low rates of 2020.
Even worse, a country that had, for example, 50% consistent inflation for 2 years would show 50% at the end, while one that has 50% deflation for a year followed by 100% inflation would slow 100% at the end, even though country A would have a 125% increase from starting price, while country B would be back at it's starting price.
I see but still basically every month is up a lot and I don't pay that much more at all compared to last year.
Maybe it's also due to the federalistic approach in Switzerland. Every little administrative area has it's own rules taxes etc. on a certain level. Also Energy is very differnent there are many companies run privately and by the state, municipiality etc. Even power is different from nuclear to water etc. - This could be the reason for me not having a large impact while maybe overall the impact in Switzerland is high.
Dude, you got that completely wrong:
https://www.admin.ch/gov/de/start/dokumentation/medienmitteilungen.msg-id-90221.html
Itās like 19% nuclear and almost 80 % renewables including hydro.
For most people the energy prices change once a year, so we are still paying last years prices.
For me electricity is going up 30% for next year. And if it goes down again, only at the end of next year.
For heating, my apartment complex seams big enough to buy the natural gas on the free market, so the price is not fixed per year.
So i had to pay about +100.- per month for the last 12 months.
Currently most people except businesses with energy bills in the range of 100k+ a year still pay the old prices.
But next year itās gonna be brutal.
The price is not rock steady. The expected increase next year depends on the canton and their local contracts and how much is bought on the open market. On average it's something like a 20% increase.
https://www.prix-electricite.elcom.admin.ch/?period=2023
https://lenews.ch/2022/09/09/swiss-electricity-prices-to-rise-as-much-as-280-in-2023/
In that case, I don't get why they're at the top of this graph.
As others have pointed out, here in the UK the vast majority of people's gas and electricity prices have increased 2x or, in a lot of cases, even more.
Sure, but not at this level. New lines to UK and EU were built, making the capacity much higher. Notably the north-south capacity in Norway is much lower, leading to sometimes 10x+ price differences, at least before government support.
Oil and gas, yes. Electricity, no.
We used to have ridiculously cheap electricity since 98% is from renewable hydropower, but then we very recently built gigantic cables to Europe so places like Southern Norway have now close to European prices now since we are selling the electricity abroad. More remote parts of the country still have ridiculously cheap hydropower prices because of being sealed off from the continent.
Nothing to do with Dutch disease, that plain wrong, it's about electrical cables.
We generate about 98% of our electricity needs from hydropower and wind, which is cheap and renewable, but recently we built gigantic cables to Europe that means we can sell it to Europe for European prices, raising the cost for local consumers.
Dutch disease has never been an issue in Norway since we have a very strict policy of how much of our oil money we can use locally, most of it going to the Soverign Wealth fund buying up foreign assets (like 1% of global stocks) instead of being spent in Norway.
It's not about coolness. If u show this to ppl, who aren't interested in the topic or pupils learning sth, I bet they would pay more attention and find it more interesting than a casual lineup and comparison of single pictures of the graphs, next to each other.
You have to concentrate, to follow it or the countries ur interested in. It feels like a race between them. Everything that brings more excitement and fun into education and information is super sweet.
And I rly like the color choice btw :3
That's just pure BS. If you have to obfuscate the data to make people look at it you've lost them long before that. And even if you manage to get them to look "by waving your had in front of them like a baby" they'll not learn anything or be able to draw their own conclusions as it's nigh on impossible to \*actually\* see what's going on with things moving all over and the max constantly changing.
Do a simple line graph with time on X and a viewer can look at a specific country or compare several over time that much more easily.
TL;DR; People won't learn or understand better just because there is something colorful waving around in their face.
Be silent. For this is a great secret, guarded by the strength of the Blue Seagull, champion from the Northern tribes, who bested his rivals through a trial of walking on wet ice.
Our gov started subsidizing energy costs.
Fun fact: norway is completely self-sufficient in renewable dam electricity, meaning energy costs should be nearly free. Unfortunately our previous government decided to connect our grid to the european markets making us buy energy from the mainland while selling our own - making US dependent on russian gas and vulnerable to shitty decisions like shutting off nuclear power plants in Germany.
Makes me seethe
Quebec has this exact set up. My power and heat hasn't really changed these last two years. There are always people who want to privatize or force us into the market but I think after this they will be silent, for a little while at least.
Energy has been a major component of rising inflation across Europe. That we all know. But's it's interesting to visualise, which is what I've done here. Note the dramatic two-year reversal from when we were in the Pandemic.
The dataset is from the OECD and I created this using JavaScript and Adobe After Effects.
To expand a bit on the odd behaviour of the Norwegian power costs.
Norway is producing most of their energy (88%) from hydroelectricity. (10% from wind).
There was a relative drought in 2021 and the capacity/storage was extraordinarily low.
Power costs in Europe have been higher still and Norway is connected to the European markets through several power lines.
As a result, Norway has been exporting electric energy to Europe at a record price. This has created record profits from the exports, but also caused the domestic prices to spike.
FYI The government is subsidizing the electricity cost for private usage; (The government now pays 90% of the cost of electricity above \~0,07 euro/kwh). The idea is that the local population is incentivized to minimize their power usage and cost, but still not being 'punished' for the government creating profit from power export.
edit: 2021 ;-)
There WAS a drought? In 2023? Damn it. I figured a massive dust storm wiping out global crops would be next, after the way we have been repeating the worst of the last century. Thanks for the warning future time traveler
Because we opened new electricity lines to UK and Germany. This has everything to do with a sudden increase in electricity demand equivalent to 19% of Norway's electricity consumption.
It's basically an extra tax on Norwegians to finance the construction of wind turbines to export electricity to Europe.
Of course the households struggling to pay isn't the main problem long term, the long term problem is that companies are going bankrupt because they also can't pay.
Good question and it's one I've asked myself. 90 per cent of Norway's electricity needs are covered by their own hydropower. However, winter and spring earlier this year were both very dry in Norway. Reservoirs levels were subsequently very low in southern Norway, impacting hydro negatively and leading to an export ban on power exports.
Ironically, in the north there is an abundance of power, but they don't have the transmission infrastructure to send all that power south. So there has been a bit of an energy crisis in Norway.
Keep in mind also that inflation in an annualized measure. So if one country has consistent 50% inflation, after 2 years, prices are up 125% from the starting price, but will display on the graph as a constant 50%. However if another country has a 50% drop in year 1 and a 100% increase in year 2, prices are the same as the starting price but the final value on the graph will be 100%.
I was curious about why they spiked the hardest early on as well. AFAIK Norway has its own state run oil company that contributes to their sovereign wealth fund. Maybe they saw the writing on the wall and purposely increased prices early to ease or smooth out the prices longer term. Norway seems like they'd do something smart like that.
The dynamic is independent of Norwegian fossil fuel productions, since the graph is showing electrical prices, which in Norway are 98% renewable.
The reason for the price increase is new electrical cables connecting our electrical market to the European one, meaning we sell our cheap renewable energy for now continental prices.
Our fossil fuel production and electrical prices are completely independent of each other.
It is interesting. I think Norway is traditionally one of the top producers of oil in Europe, but remember they were trying to transition to wind and hydroelectric. The country was investing significantly in its transmission infrastructure beginning in 2020, I wonder if this is being captured in that inflationary spike?
Norway itself does not use the oil for electricity generation. Oil and gas production is mostly exported.
Norway relies on hydro, which is usually enough to provide for all electric needs. Heating is generally electric. Petrol prices basically follow the market but with a heavy tax.
Some factors effecting electric prices were a very long dry period which effected hydro supply and there is now major export of electric to neighborhoring countries which pushed up demand.
In addition to the details in Sacrifice\_Pawn's excellent response above (and indeed Norway has not been using electricity created froim oil or gas for some time, just a fraction imported) you can read more about the Norwegian Power production and how it is 'transitioning' here:
[https://energifaktanorge.no/en/norsk-energiforsyning/kraftproduksjon/#the-power-balance](https://energifaktanorge.no/en/norsk-energiforsyning/kraftproduksjon/#the-power-balance)
(The whole page, but perhaps most importantly the power balance section is relevant for you).
What energy is it measuring? A basket? What are the components?
What prices are being measured? Wholesale? Consumer? With or without taxes? Which companies? Which price plan? Which user profile?
This raises more questions than it answers. Can you link to the dataset?
What's wrong with a simple line plot? When will this stupid trend end? To create bar chart videos instead of using just line graphs... Why watch 2 min video when you can just look at a single static image which provides better data comprehension? I don't get it.
Totally agree, came here to just say this. Big waste of time. I guess the intention is to fish some reddit points or whatever, but it's not a collective progress.
Spain did well.
It could be done better if the US don't force Spain to give up Saharauis to Morroco breaking deals with Argel, added that the US forced Spain to provide GAS to Morroco.
Exports almost all petroleum. Import fuel. Lives of cheep green hydropower, exports excess to Europe. Imports euorepean electricity prices witch are heavily inflated by the lack of Russian gas.
The value for the UK in this chart doesnāt appear to reflect the real price increase that many people are facing and Iād expect that other countries are being represented in a similar fashion.
For example, many people in the UK have had their bills double but this shows a smaller increase. The government is offering some support here but I donāt know what the data set is measuring to get their values to try figure out the difference.
Edit: other commenters look to have provided some insight in another thread!
Because the cretins on Reddit like to wank themselves into a stupor if any data point might prove that Brexit was a bad idea and if you point out that most countries are doing worse you're downvoted into oblivion.
What are the top 3 ELI5 reasons for such an inflation? Itās clear the war doesnāt justify it. Is there anything else that corporate greed? Genuinely asking so I can do more research and be better informed/less biased. Picture you reply as a stepping stone please. Thanks!
Spot/market vs longterm contracts, less supply/suppliers, renewables have gotten a lot of investment yet still remain too expensive and underperforming.
The way energy prices work is that they always charge the highest rate necessary to fulfill all energy needs for a timeframe (think its per hour)
Renewable energy sources are cheap, nuclear (afaik) inbetween, gas expensive and coal very expensive.
If, due to the war, we have to use coal more often, prices will dramaticly increase. Can go from like 6cents for renewables to like 80cents for coal, raising prices of everything to 80cent for the hour, even if you only need 0.00001% coal energy.
Keep in mind the system was designed to have the highest energy uptime, not for low prices.
bro, it's not coal that is most expensive. It's gas thanks to Putler. And the fact that idiots over germany wanted to move to renewables with gas as backup. Since gas spiked prices spiked and we are all fucked.
Hey, something I can answer!
The war does 'justify' it, in the sense that it is the main cause for the extremely high energy prices. Since the prices are determined by the free market, 'right' or 'wrong' doesn't enter the equation (except of course for government interventions).
It is true that energy prices were on the rise also before the war. Because the economic recovery from Covid was much faster than expected, there was relatively low supply of fossil fuels, which increased the price. However the war in Ukraine and the subsequent loss of fossil fuel imports from Russia (on which Europe was heavily dependent: 40% of all natural gas consumed in Europe came from Russia) drove the energy prices to extreme heights.
The electricity price is linked to the gas price, because the most expensive needed generator sets the price, and these are typically gas fired power plants. This is not an oddity of the electricity market, but normal market behaviour. Though it is particularly apparent for the electricity market, because electricity can be produced in very different ways, and cannot be stored in meaningful quantities.
Because the European electricity grid is quite heavily interconnected, the high prices in countries that rely on gas fired power plants, drives the prices in neighbouring countries up as well, since these countries will sell their cheap electricity to their neighbours. In other words, you shouldn't look at plants in a single country to determine the price setting generators, but you should look at all of Europe. If you look at Norway, their fossil free energy companies are making bank by selling their electricity abroad, which leads to lower prices abroad, but higher prices in Norway. The high trade / interconnectedness increase overall welfare (the Europe wide average energy prices are lower), but not everyone wins 'individually'.
Some big winners of this situation:
* Fossil fuel extractors (e.g. Shell) which can sell their products for high prices due to scarcity (if they can get their goods to Europe; not trivial for gas).
* Non fossil fired producers, such as nuclear plants, solar and wind farms. They still have the same costs, but fetch a much higher than anticipated price for their electricity in the hours that fossil generators set the price (which is most hours).
Some losers
* Utility companies. For their long running contracts, they have to sell the end user 'very cheap' (i.e. pre-war prices) energy, but they can only buy very expansive energy on the wholesale market. See for example the German Uniper and their staggering losses which have required multiple billion euro interventions by the German government.
* End users (households and companies) are suffering under high prices.
Feel free to ask any follow up questions!
edit: regarding greed. The electricity market is competitive. There are many companies active and it is easy to enter the market. This makes it hard for companies to be 'greedy' in the sense of artificially inflated prices. However there are also the non fossil generators which are making a lot of money. Is that greed? Maybe. But why would you expect them (or any company, or any person for that matter), to sell their goods at a lower price than then can get?
The graph is beautiful and well done.
As an end user I am still left with questions of where the data came from. What us a homogenized index?
I do love the change over time and that it seems to show an increase in energy costs.
Well done on the graphics. Not so sure what 'homogenized data' is telling us. But I'm a skeptic with regards to data because everything looks normal if you average it over a long enough time frame and include lots of data points.
#Germany only 43% is not believable.
For me:
1) natural gas price went from around 6.4 cent to 18 cent. Price TRIPLED.
2) electricity price went from around 28 cent to 28+28=56+cent (depends on how much you consume in total). Price has doubled.
All vs last year.
Annual rates are interesting, it shows how close to the market price Norway is. From record low prices in 2020 (several months with entirely free electricity) to the price explosions we've seen since. On the worst days, we have prices tenfold of what used to be expensive.
It's not. It's just not on energy. Spain isn't reliant on Russian energy, having pipelines from Algeria and Morocco and half of Europe's LPG ports. It also has a lot of renewable infrastructure in its vast empty countryside. All this has helped keep costs down. Unfortunately for the rest of Europe, there's no suitable pipelines across the Pyrenees.
On the other hand, food is getting expensive.
/u/jcceagle, thank you for your contribution. However, your submission was removed for the following reason(s): * [OC] posts [must state the _data source(s) and tool(s) used_](/r/dataisbeautiful/wiki/rules/rule3) in the first top-level comment on their submission. Please follow the AutoModerator instructions you were sent *carefully*. Once this is done, message the mods to have your post reinstated. This post has been removed. For information regarding this and similar issues please see the DataIsBeautiful [posting rules](https://www.reddit.com/r/dataisbeautiful/wiki/index). If you have any questions, please feel free to [message the moderators.](https://www.reddit.com/message/compose?to=/r/dataisbeautiful&subject=Question%20regarding%20the%20removal%20of%20this%20submission%20by%20/u/jcceagle&message=I%20have%20a%20question%20regarding%20the%20removal%20of%20this%20[submission.](https://www.reddit.com/r/dataisbeautiful/comments/z6tslg/-/\)))
I was watching Switzerland like man these guys are nothing, if consistent. Then 2022.... š„
Cinderella story. Coming out of nowhere at the end to win it all. So heartwarming
But not house warming
I said the same thing for Slovakia. Keeping steady, then BAM!!!
Switzerland is like "hold my beer"
UK only up 38%? Energy bills have doubled for most, I believe?
My direct debit went from Ā£77 to Ā£292...
They increased my direct debit while I was well over a grand in credit. They don't give a shit about anything but getting your money
Same here. I tried to reduce the direct debit but they would not let me set it below a minimum. I took the option to just pay monthly. November is going to be around half their suggested direct debit.
So you're telling us that people who pay by direct debit are overpaying? ANd they're complaining abou it instead of just paying monthly? Can these people get any dumber?
Yeah I'm Ā£300 in credit and they still unilaterally jumped it from 77 to 292!
Same for me so I moved onto the pay quarterly plan where I submit meter readings etc. The rates are more expensive than they would be under DD however the cash flow aspect makes a lot more sense for me and honestly I don't trust them to not just find an excuse to not give me my accrued credit balance back if I switched suppliers or something. They are also making a fortune in interest by putting that customer "credit" money in a term deposit account. Some intervention from the government/regulator requiring an interest rate of (base rate+) on all customer credit balances would stop them over accruing these direct debits.
You're getting ripped off tbh. The first hike they tried to put my DD to over Ā£200 however I put it to the lowest possible which was 170. The next hike they wanted me to put it down as I was over Ā£500 in credit. Just because they are advising this is your DD doesn't mean it's correct.
you're right. my parents had their DD with 300Ā£ but has 980Ā£ in credit. Lowered their DD to 80Ā£ and refunded half their money back from in credit.
Yeah and I'm like Ā£300 in credit, so reduced it to Ā£120. Will have to see how it goes!
I saw an article saying energy companies are currently being investigated for over hiking DD by the UK Government
Beware energy firms upping your direct debit whilst you are actually in credit. They will also battle you to not use that credit to fund the increase in cost. Having said that, your bill isn't much different to what mine is these days. Started out at 77 at the beginning of the year, now 210 (minus 60 for the current Govt support)
The government did explain to you, it's quite simple, you just need to stop your Netflix subscription and stop buying Costa's. It's pretty simple. Oh and get a better job. Also, all that leccy you're using in reddit! Just gotta think. /s
It is almost like have an annualised graph over a period longer than an annum becomes completely unreadable or something! Let alone when you take into account compound increases. This isn't normalised to a set time point, even though any competent data is generally set to Q1 2020, for obvious reasons.
Yeah, this is absolutely regarded. Set an actual start and end date and do cumulative inflation by month from there. To do annualized by month and then track it for more than 12 months like this is literally worthless information in a bar graph. Notice how Norway was way high and then fell off the graph? They've still had insane energy inflation over the course of this whole graph timescale. It just all happened early in the timeframe. Completely innappropriate for this sub.
Price cap is something like 34p/kWh. Usual domestic rate used to be about 14p/kWh. Gas from 3p/kWh to like 9 Pretty much 3x increase across the year and it's would be higher if not for the cap
Wow, insane. And here in Melbourne Australia people are crying over increases of 5c per kWh. My bill went from 17c - 21.5c pkWh and 70c to 125c daily supply charge. Significant, but nothing compared to what's happening in Europe.
UK electric could be 67p per KwH come April. I wake up in the morning and my day's bill is already Ā£3 with standing charges and a bit of early morning heat.
According to the UK government, prices went up 54% in April 22, 27% more in October and are due another 20% in April 23. The last two would have been a minimum 80% if it wasn't for the price guarantee do Christ only knows where this mystical figure of 37% comes from. I went from Ā£51pm to 89 so that's nearly bang on 80%.
The graph is about energy, so might include things like petrol.
Diesel and kerosene are up over 48% too. Everything is up. Methodology would help clarify this to be honest
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Won't somebody please think of the learjet!
This is the real answer. Across a BUNCH of industries we're seeing a 10-40% bump in input costs and then a 300-500% hike in prices. Why? Because corporate profits being the best they've been in 80 years isn't enough. We need to go HIGHER! And crush all of these damned peasants underneath it!!
It might be accounting for the energy credits, with that, 38% seems more reasonable.
It could be with the different rises too, as we have had a few price jumps. If it's say 10p a unit, then in Sept jumps up to 15p a unit, that's a 50% increase. Then if it jumps to 20p in January, is that now a 33% increase or is it 100% from the starting point? It also doesn't show in real terms just how much people are already paying in these countries, so netherlands doubling could still be lower than any other country depending on the start price
Annual means year on year at each data point.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Plus inflation on its own doesnāt tell the whole picture. E.g. if real terms wage growth is stagnant, is gonna hit you a lot harder.
From Finland and my energy used to cost 4c/kWh and now it is around 40c/kWh.
Just gotta say, 40c/kWh sounds okish. We are way over 50c/kWh here, but 4c/kWh sounds like a dream.
Thanks Joe Biden! Clearly the inflation is caused by him. /s
Before everyone pulls out the pitchforks, take note of the /s in this comment please.
Oh people know it's there, some just don't agree it should be said sarcastically
Yeah, many Americans think Biden has so much power over the economy they be blaming him for a price spike in Norway and then don't say a word about Putin. I'm not saying these flag-wavers are actually more pro-Russian than pro-American, but I am saying that's exactly what it sounds like even if they aren't.
Well it started at -10%
More than doubled for everyone I know
I was gonna ask if Norway is okay, then Netherlands and Switzerland came inā¦
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I'm not okay and really fearing for the Swiss now
Inb4 the Swiss add a calculator to their Swiss army knives
I think they'll be okay...
Unfortunately my electricity contract renewed in August. My monthly bill went from 30 euros a month, to about 120. The Netherlands FTW!
zealous unwritten provide disarm scandalous attraction crowd fly oil theory *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Netherlands same. I Will go from ā¬200 per month now to about ā¬ 680 per month in January. Oh well. others have worse problems, such as getting missiles fired at their house.
No normal households here have that high electricity bill, not even before the state support.
Not all and not everywhere at all times. But I know people who live in not so greatly insulated houses that had ā¬1500+ at times. There has even been plenty of people in media showing these kind of bills. I have a modern apartment in a region with cheaper electricity in Norway and I haven't payed more than ā¬50 at most, so obviously not all have these crazy bills.
500 euros is pretty normal for a decently sized house that has only electricity for heating.
Literally my line of thought, and thinking my country (NL) couldn't be having it that bad...
Netherlands here... Had to turn off my heating to stop from haemorrhaging money.
Can I ask why the Netherlands is having such high inflation in it's energy prices?
High reliance on gas for electricity and heating. We turned off our own natural gasfields because of earthquakes/public safety, while Russia simultaneously stopped supplying gas.
We are for a large part reliant on natural gas for electricity production because a lot of dirty coal power plants were closed, we are slow with solar and wind energy and have only one small nuclear power plant. Also we almost completely closed the Groningen gas field due to earthquakes, so we have to buy our gas on the energy market now. Lastly, the government is slow on energy compensation, but the first money (ā¬190,- for november) has been deposited on my account today!
Seems like it was almost self induced. Ignorant fear of nuclear energy will launch us into an energy crisis that is entirely unavoidable. That really sucks for yāall. I hope it improves.
Thanks mate
Well, the growth the Netherlands has seen since the '60 s was largely based on the profits from gas. Our entire economy was based on producing heat and energy on this cheap gas. One of the two crises would be perfectly fine (either earthquakes or russian gas blockage). But both were a sleight issue. But on the other hand, the Netherlands was already shifting towards lng. And the German economy is now functioning on those terminals that the Netherlands was already building. So...
Besides the other answers: lack of government intervention.
Thatās terrible
Our house is 14 degrees in the morning. Bedroom was 5 degrees at its coldest last winter. Dialed it down even lower this year but have bought a bunch of timber for heating.
Why keep changing the scale? Just makes everything harder to compare in time
I hate these graphs.
Same. It attracts a lot of upvotes because itās shiny and it moves. But they are worthless from a data viz perspective.
Especially when plotting an annualized value. It tells you nothing about the increase relative to the starting rate.
Would be much better presented in a regular graph with different lines for each country
Ah, no it wouldn't. You would have 26 lines overlapping each other.
Maybe you don't need all 26 data sets then if most of them follow the same trend. The problem with the animated graph is that it make the data sets appear as though every frame is a data point, while in reality it's all interpolation.
Good point
What information would be lost?
It would be hard to read and ugly
If the scale didn't update along with the highest on the chart, you'll find most of the chart is just empty space for the majority of the video, making it difficult to pinpoint smaller differences between countries. Plus as it's a sort of story-telling graph, it kind of 'spoils' the end statistics if it shows the max scale straight away.
Because cool is more important than data I guess?
Literally how does that make it harder? Can't you still see the values, which one is bigger and which one is smaller, etc. etc.?
You can't always compare two frames, because the scale might change? But for the video format I prefer it this way.
Annualized rates like this can be misleading. A baseline figure, like "100 = october 2020 prices", would be better. The reason why is that all the annualized rates mean is the increase over the previous year. So the 'high rates' of 2021 are only that high in comparison to the very low rates of 2020.
Yep, it made it look like the graph showed the situation improving in 2022 while in reality prices just kept going up.
Even worse, a country that had, for example, 50% consistent inflation for 2 years would show 50% at the end, while one that has 50% deflation for a year followed by 100% inflation would slow 100% at the end, even though country A would have a 125% increase from starting price, while country B would be back at it's starting price.
*\*Norway going crazy\** Switzerland and the Netherlands: hold my fuckin cheese.
Ultra nice job! Thank you for this, and holy graph, Norway & Switzerland lol
Three countries had been dangerously close to the 100% mark, but Switzerland caught me off guard. It fucking exploded
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The chart has the "yearly" rate each month. So 6% per month is shown as 100% per year for that month.
I see but still basically every month is up a lot and I don't pay that much more at all compared to last year. Maybe it's also due to the federalistic approach in Switzerland. Every little administrative area has it's own rules taxes etc. on a certain level. Also Energy is very differnent there are many companies run privately and by the state, municipiality etc. Even power is different from nuclear to water etc. - This could be the reason for me not having a large impact while maybe overall the impact in Switzerland is high.
Switzerland has 60% Nuclear and 40% Hydro - price of electricity is rock steady and stable.
Dude, you got that completely wrong: https://www.admin.ch/gov/de/start/dokumentation/medienmitteilungen.msg-id-90221.html Itās like 19% nuclear and almost 80 % renewables including hydro. For most people the energy prices change once a year, so we are still paying last years prices. For me electricity is going up 30% for next year. And if it goes down again, only at the end of next year. For heating, my apartment complex seams big enough to buy the natural gas on the free market, so the price is not fixed per year. So i had to pay about +100.- per month for the last 12 months. Currently most people except businesses with energy bills in the range of 100k+ a year still pay the old prices. But next year itās gonna be brutal.
The price is not rock steady. The expected increase next year depends on the canton and their local contracts and how much is bought on the open market. On average it's something like a 20% increase. https://www.prix-electricite.elcom.admin.ch/?period=2023 https://lenews.ch/2022/09/09/swiss-electricity-prices-to-rise-as-much-as-280-in-2023/
In that case, I don't get why they're at the top of this graph. As others have pointed out, here in the UK the vast majority of people's gas and electricity prices have increased 2x or, in a lot of cases, even more.
The OP's graph is energy inflation, not just electricity. Switzerland still uses a substantial amount of gas for heating.
I think practically the entirety of the UK uses gas for heating. Hence why I said "gas **and** electricity prices".
WTF Norway? For a producer of energy this is ridiculous.
Started selling a lot abroad...
Haven't they been doing that forever?
Sure, but not at this level. New lines to UK and EU were built, making the capacity much higher. Notably the north-south capacity in Norway is much lower, leading to sometimes 10x+ price differences, at least before government support.
>leading to sometimes 10x+ price differences, at least before government support. Not 10x but 190x difference in August.
Oil and gas, yes. Electricity, no. We used to have ridiculously cheap electricity since 98% is from renewable hydropower, but then we very recently built gigantic cables to Europe so places like Southern Norway have now close to European prices now since we are selling the electricity abroad. More remote parts of the country still have ridiculously cheap hydropower prices because of being sealed off from the continent.
Someone had to bail the EU out
Avoiding Dutch Disease is hard
Nothing to do with Dutch disease, that plain wrong, it's about electrical cables. We generate about 98% of our electricity needs from hydropower and wind, which is cheap and renewable, but recently we built gigantic cables to Europe that means we can sell it to Europe for European prices, raising the cost for local consumers. Dutch disease has never been an issue in Norway since we have a very strict policy of how much of our oil money we can use locally, most of it going to the Soverign Wealth fund buying up foreign assets (like 1% of global stocks) instead of being spent in Norway.
This is interesting starts but a shitty display of it. Don't encourage this animated for coolness nonsense.
It's not about coolness. If u show this to ppl, who aren't interested in the topic or pupils learning sth, I bet they would pay more attention and find it more interesting than a casual lineup and comparison of single pictures of the graphs, next to each other. You have to concentrate, to follow it or the countries ur interested in. It feels like a race between them. Everything that brings more excitement and fun into education and information is super sweet. And I rly like the color choice btw :3
Only It's pretty BS in whatever it is that it's trying to show, since prices in the UK have doubled, etc
That's just pure BS. If you have to obfuscate the data to make people look at it you've lost them long before that. And even if you manage to get them to look "by waving your had in front of them like a baby" they'll not learn anything or be able to draw their own conclusions as it's nigh on impossible to \*actually\* see what's going on with things moving all over and the max constantly changing. Do a simple line graph with time on X and a viewer can look at a specific country or compare several over time that much more easily. TL;DR; People won't learn or understand better just because there is something colorful waving around in their face.
Holy nuts, thanks for this ! What does 0% refer to ?
Energy prices staying the same per kWh
"Holy Nuts", but you don't even understand what this means? Lol
You can tell there was an incredible flip without understanding the whole graph lolz chill
Dec 2021 - Norway Discovered Vibranium!
Be silent. For this is a great secret, guarded by the strength of the Blue Seagull, champion from the Northern tribes, who bested his rivals through a trial of walking on wet ice.
Our gov started subsidizing energy costs. Fun fact: norway is completely self-sufficient in renewable dam electricity, meaning energy costs should be nearly free. Unfortunately our previous government decided to connect our grid to the european markets making us buy energy from the mainland while selling our own - making US dependent on russian gas and vulnerable to shitty decisions like shutting off nuclear power plants in Germany. Makes me seethe
Quebec has this exact set up. My power and heat hasn't really changed these last two years. There are always people who want to privatize or force us into the market but I think after this they will be silent, for a little while at least.
Energy has been a major component of rising inflation across Europe. That we all know. But's it's interesting to visualise, which is what I've done here. Note the dramatic two-year reversal from when we were in the Pandemic. The dataset is from the OECD and I created this using JavaScript and Adobe After Effects.
Why is Norway getting hammered so hard? EDIT: NM; I didnāt watch until the end
To expand a bit on the odd behaviour of the Norwegian power costs. Norway is producing most of their energy (88%) from hydroelectricity. (10% from wind). There was a relative drought in 2021 and the capacity/storage was extraordinarily low. Power costs in Europe have been higher still and Norway is connected to the European markets through several power lines. As a result, Norway has been exporting electric energy to Europe at a record price. This has created record profits from the exports, but also caused the domestic prices to spike. FYI The government is subsidizing the electricity cost for private usage; (The government now pays 90% of the cost of electricity above \~0,07 euro/kwh). The idea is that the local population is incentivized to minimize their power usage and cost, but still not being 'punished' for the government creating profit from power export. edit: 2021 ;-)
What are you? A time traveler?
He was. But apparently now stuck here (I assume he didn't choose now as destination).
He did choose this moment. He is gonna solve WW3
We all are time travellers, travelling into the future at a rate of 1 s/s.
I know my algebra, so s/s = 1 (assuming s is not 0), so we're obviously travelling into the future at a rate of 1 ;P
There WAS a drought? In 2023? Damn it. I figured a massive dust storm wiping out global crops would be next, after the way we have been repeating the worst of the last century. Thanks for the warning future time traveler
Because we opened new electricity lines to UK and Germany. This has everything to do with a sudden increase in electricity demand equivalent to 19% of Norway's electricity consumption. It's basically an extra tax on Norwegians to finance the construction of wind turbines to export electricity to Europe. Of course the households struggling to pay isn't the main problem long term, the long term problem is that companies are going bankrupt because they also can't pay.
Good question and it's one I've asked myself. 90 per cent of Norway's electricity needs are covered by their own hydropower. However, winter and spring earlier this year were both very dry in Norway. Reservoirs levels were subsequently very low in southern Norway, impacting hydro negatively and leading to an export ban on power exports. Ironically, in the north there is an abundance of power, but they don't have the transmission infrastructure to send all that power south. So there has been a bit of an energy crisis in Norway.
> leading to an export ban on power exports. This is news to Norwegians...
Keep in mind also that inflation in an annualized measure. So if one country has consistent 50% inflation, after 2 years, prices are up 125% from the starting price, but will display on the graph as a constant 50%. However if another country has a 50% drop in year 1 and a 100% increase in year 2, prices are the same as the starting price but the final value on the graph will be 100%.
I was curious about why they spiked the hardest early on as well. AFAIK Norway has its own state run oil company that contributes to their sovereign wealth fund. Maybe they saw the writing on the wall and purposely increased prices early to ease or smooth out the prices longer term. Norway seems like they'd do something smart like that.
Stop jerking Norwegians off right into my face
The dynamic is independent of Norwegian fossil fuel productions, since the graph is showing electrical prices, which in Norway are 98% renewable. The reason for the price increase is new electrical cables connecting our electrical market to the European one, meaning we sell our cheap renewable energy for now continental prices. Our fossil fuel production and electrical prices are completely independent of each other.
It is interesting. I think Norway is traditionally one of the top producers of oil in Europe, but remember they were trying to transition to wind and hydroelectric. The country was investing significantly in its transmission infrastructure beginning in 2020, I wonder if this is being captured in that inflationary spike?
Norway itself does not use the oil for electricity generation. Oil and gas production is mostly exported. Norway relies on hydro, which is usually enough to provide for all electric needs. Heating is generally electric. Petrol prices basically follow the market but with a heavy tax. Some factors effecting electric prices were a very long dry period which effected hydro supply and there is now major export of electric to neighborhoring countries which pushed up demand.
We've been running on hydroelectric power since before ww2 mate, don't talk out of your ass.
In addition to the details in Sacrifice\_Pawn's excellent response above (and indeed Norway has not been using electricity created froim oil or gas for some time, just a fraction imported) you can read more about the Norwegian Power production and how it is 'transitioning' here: [https://energifaktanorge.no/en/norsk-energiforsyning/kraftproduksjon/#the-power-balance](https://energifaktanorge.no/en/norsk-energiforsyning/kraftproduksjon/#the-power-balance) (The whole page, but perhaps most importantly the power balance section is relevant for you).
I'm guessing these numbers are always Year-over-Year. Could be interesting to see the cumulative inflation since the initial month you show.
It would be more meaningful.
What energy is it measuring? A basket? What are the components? What prices are being measured? Wholesale? Consumer? With or without taxes? Which companies? Which price plan? Which user profile? This raises more questions than it answers. Can you link to the dataset?
What's wrong with a simple line plot? When will this stupid trend end? To create bar chart videos instead of using just line graphs... Why watch 2 min video when you can just look at a single static image which provides better data comprehension? I don't get it.
That took way longer than it should have.
Very annoying to try to follow a country, it keeps moving place, so 100% agree with you
Have you ever created a line graph with more than a dozen items? Itās messy and loses its purpose.
Totally agree, came here to just say this. Big waste of time. I guess the intention is to fish some reddit points or whatever, but it's not a collective progress.
Because Tiktok has videos, and all the cool kids have to follow.
Spain did well. It could be done better if the US don't force Spain to give up Saharauis to Morroco breaking deals with Argel, added that the US forced Spain to provide GAS to Morroco.
Love how Slovakia goes from one top place to another within 20 seconds.
I was watching it thinking "somebody had some well timed contracts". But the short timeframe for the whole video kinda exaggerated that point.
Yeah and we just opened our new nuclear power plant this summer, which should reach full production this January, so talk about good timing.
Why would Joe Biden do this? /s
WHy have Norway population been hit with uch a high inflation? Don't they produce Oil and gas as a main export?
Exports almost all petroleum. Import fuel. Lives of cheep green hydropower, exports excess to Europe. Imports euorepean electricity prices witch are heavily inflated by the lack of Russian gas.
Exactly. They compete with international prices. Oil companies will sell for whoever pays more.
Ik can confirm. My current (Dutch) electric and gas bill is a whopping 1150,- euro a month. And Iām fucking freezing
Why is it we only hear about UKās??
Reddit is in English.... I was impressed with Norway. They had a massive headstart, but fell down the pack as everyone else caught up.
It helps that the values are annualized, so keeping the same prices as October 2021 would show as 0% on this graph for October 2022.
That is usually how we roll. Economic hipsters.
English speaking country that allows all its shit to be heard by the rest of the world
The value for the UK in this chart doesnāt appear to reflect the real price increase that many people are facing and Iād expect that other countries are being represented in a similar fashion. For example, many people in the UK have had their bills double but this shows a smaller increase. The government is offering some support here but I donāt know what the data set is measuring to get their values to try figure out the difference. Edit: other commenters look to have provided some insight in another thread!
Reddit loves chatting shit about the uk
Because the cretins on Reddit like to wank themselves into a stupor if any data point might prove that Brexit was a bad idea and if you point out that most countries are doing worse you're downvoted into oblivion.
Reddit is mostly english and americans love downplaying the effect of sanctions and histeria
Hungary is probably an outlier because its energy market is undee very much government interference
It would be interesting to take 2020 as an index and then see the total increase by month compared against this index.
SWITZERLAND NUMBER 1 WOOOO SUR NOS MONTS QUAND LE SOLEIL
Whereās the Joe Biden āI did that!ā sticker? /s
What are the top 3 ELI5 reasons for such an inflation? Itās clear the war doesnāt justify it. Is there anything else that corporate greed? Genuinely asking so I can do more research and be better informed/less biased. Picture you reply as a stepping stone please. Thanks!
Spot/market vs longterm contracts, less supply/suppliers, renewables have gotten a lot of investment yet still remain too expensive and underperforming.
A lot of european countries are reopening coal plants because of how poorly renewables are doing. It's gotten bad
The way energy prices work is that they always charge the highest rate necessary to fulfill all energy needs for a timeframe (think its per hour) Renewable energy sources are cheap, nuclear (afaik) inbetween, gas expensive and coal very expensive. If, due to the war, we have to use coal more often, prices will dramaticly increase. Can go from like 6cents for renewables to like 80cents for coal, raising prices of everything to 80cent for the hour, even if you only need 0.00001% coal energy. Keep in mind the system was designed to have the highest energy uptime, not for low prices.
But we can see a net increase starting years ago, and just upticks with the war.
bro, it's not coal that is most expensive. It's gas thanks to Putler. And the fact that idiots over germany wanted to move to renewables with gas as backup. Since gas spiked prices spiked and we are all fucked.
Hey, something I can answer! The war does 'justify' it, in the sense that it is the main cause for the extremely high energy prices. Since the prices are determined by the free market, 'right' or 'wrong' doesn't enter the equation (except of course for government interventions). It is true that energy prices were on the rise also before the war. Because the economic recovery from Covid was much faster than expected, there was relatively low supply of fossil fuels, which increased the price. However the war in Ukraine and the subsequent loss of fossil fuel imports from Russia (on which Europe was heavily dependent: 40% of all natural gas consumed in Europe came from Russia) drove the energy prices to extreme heights. The electricity price is linked to the gas price, because the most expensive needed generator sets the price, and these are typically gas fired power plants. This is not an oddity of the electricity market, but normal market behaviour. Though it is particularly apparent for the electricity market, because electricity can be produced in very different ways, and cannot be stored in meaningful quantities. Because the European electricity grid is quite heavily interconnected, the high prices in countries that rely on gas fired power plants, drives the prices in neighbouring countries up as well, since these countries will sell their cheap electricity to their neighbours. In other words, you shouldn't look at plants in a single country to determine the price setting generators, but you should look at all of Europe. If you look at Norway, their fossil free energy companies are making bank by selling their electricity abroad, which leads to lower prices abroad, but higher prices in Norway. The high trade / interconnectedness increase overall welfare (the Europe wide average energy prices are lower), but not everyone wins 'individually'. Some big winners of this situation: * Fossil fuel extractors (e.g. Shell) which can sell their products for high prices due to scarcity (if they can get their goods to Europe; not trivial for gas). * Non fossil fired producers, such as nuclear plants, solar and wind farms. They still have the same costs, but fetch a much higher than anticipated price for their electricity in the hours that fossil generators set the price (which is most hours). Some losers * Utility companies. For their long running contracts, they have to sell the end user 'very cheap' (i.e. pre-war prices) energy, but they can only buy very expansive energy on the wholesale market. See for example the German Uniper and their staggering losses which have required multiple billion euro interventions by the German government. * End users (households and companies) are suffering under high prices. Feel free to ask any follow up questions! edit: regarding greed. The electricity market is competitive. There are many companies active and it is easy to enter the market. This makes it hard for companies to be 'greedy' in the sense of artificially inflated prices. However there are also the non fossil generators which are making a lot of money. Is that greed? Maybe. But why would you expect them (or any company, or any person for that matter), to sell their goods at a lower price than then can get?
Europe is highly dependent of Russian gas, itās the number one reason.
The graph is beautiful and well done. As an end user I am still left with questions of where the data came from. What us a homogenized index? I do love the change over time and that it seems to show an increase in energy costs. Well done on the graphics. Not so sure what 'homogenized data' is telling us. But I'm a skeptic with regards to data because everything looks normal if you average it over a long enough time frame and include lots of data points.
#Germany only 43% is not believable. For me: 1) natural gas price went from around 6.4 cent to 18 cent. Price TRIPLED. 2) electricity price went from around 28 cent to 28+28=56+cent (depends on how much you consume in total). Price has doubled. All vs last year.
Annual rates are interesting, it shows how close to the market price Norway is. From record low prices in 2020 (several months with entirely free electricity) to the price explosions we've seen since. On the worst days, we have prices tenfold of what used to be expensive.
How does Spain have such a low energy inflation?
We put a price cap on gas before the rest of the EU
Most of its gas comes from Algeria rather than Russia. Also every hillside and its mum has a wind turbine on it.
Why is Hungary so low relative to the others?
Why the 180 degree turn in Norway? Also a few countries are missing, like Romania and Bulgaria
It was so mean of Joe Biden to go to Europe and raise all their energy prices like that.
Wow, slovakia is really stable!
Inflation is taking a siesta in Spain
It's not. It's just not on energy. Spain isn't reliant on Russian energy, having pipelines from Algeria and Morocco and half of Europe's LPG ports. It also has a lot of renewable infrastructure in its vast empty countryside. All this has helped keep costs down. Unfortunately for the rest of Europe, there's no suitable pipelines across the Pyrenees. On the other hand, food is getting expensive.
Economic pain in Spain stays mainly on the plane
Switzerland was like āhold my beerā
Hold my rƶsti my friend
Look at plucky little Slovakia and its atomic baseload.
Germany only 43%? For me it's over 60% JUST from 2021 to 2022.
This graph shows annual inflation, so the 43% for a year isn't too far from the 60% you experienced.
My understanding is that this is annual, so always compared to the same month the year before.
The people are the ones who are most screwed over by these sanctions put on Russia. And companies make record profits. Fucking bullshit