1. 1 1 Energy prices in energy statistics (and IRES) Mr. Atle Tostensen Statistics Norway OG4 – 2 February 2009

2. 2 Introduction Energy statistics – volume Economic statistics (also covering energy) – value Interface – prices Important to determine the role of price data in official energy statistics OG1 – UNSD questionnaire recommendation: –“Energy Price Manual – focusing on recommendations for data collection on prices and taxes”.

3. 3 Relation Value - Volume - Price Value = Volume * Price Collect two – the third is determined Should be considered in selecting a strategy for data collection.

4. 4 User needs – increased demands for price information National energy markets (especially after deregulations) Data from energy markets (exchanges), and supported by special statistical surveys as part of official statistics –Import and export prices –Business statistics – producer price indexes –National Accounts price matrix Prices in itself – most popular items from statistics Prices information important for: –market information –how energy markets are functioning (competition monitoring) –analytical purposes

5. 5 Price information Energy prices from trading markets (exchanges) for energy Market price may be spot prices Official statistics on energy prices has to take account for these market prices. Energy prices in official statistics be part of the system for: –Producer prices –Export and Import prices –CPI If special price surveys are established as part of energy statistics – Consistency with the other prices observed must be considered.

6. 6 Price in quality work Use volume-value-price relation actively in quality work and consistency/balancing checks. Use volume-value-price relation related to data collection to reduce response burden. Example: Norwegian oil statistics Example of consistency check: –value and volume available -> check if implicit prices make sense.

7. 7 Status in countries and organisations Energy Statistics – mainly focus on volume and energy content Some price information published by international organisations –Eurostat publish half yearly prices for electricity and gas from member countries –IEA publishes “Energy prices and taxes” Status in the countries – unknown, but it seams at present that NSOs are involved in a very limited way in this work internationally.

8. 8 Papers for Statistical Commission Statistics Norway papers for Statistical Commission 2005 – Programme review on energy statistics (E/CN.3/2005/3) 2006 – Quality components of oil statistics (E/CN.3/2006/11) Prices are important data items in consistency systems for both energy statistics in general and oil statistics. Illustrate importance of: –Prices as market information –Input in NA calculations –Ensure consistency in balancing of production, consumption, imports and exports.

9. 9 Challenges for data collection on prices Methodology must focus on the challenge of getting comparable energy prices. Some challenges: –Data on spot prices, contracts, future deliveries etc. –Internal deliveries –Prices with or without taxes?

10. 10 Recommendations and conclusions 1 The question is: How should energy prices be included in international recommendations? Our proposal: –To have energy price surveys as part of official energy statistics should be optional –International reporting of energy prices is relevant and should be coordinated –The role of national official energy statistics in energy price reporting to international organisations should be clearer

11. 11 Recommendations and conclusions 2 One option in IRES – volume-value-price in all chapters. –Scope of energy statistics –Statistical units and data items –Data sources and compilation strategies –Data quality Another option in IRES – extra chapter on prices Based on draft outline: –Principles in IRES –Operational aspects in ESCM Important: Open cooperation between organisations and countries (InterEnerStat and OG)