Transcript Energy Prices in Energy Statistics (and IRES) (Atle Tostensen, Statistics Norway)

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Energy prices in energy
statistics (and IRES)
Mr. Atle Tostensen
Statistics Norway
OG4 – 2 February 2009
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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”.
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Relation Value - Volume - Price
• Value = Volume * Price
• Collect two – the third is determined
• Should be considered in selecting a strategy for data
collection.
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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
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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.
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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.
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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.
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Papers for Statistical Commission
• Statistics Norway papers for Statistical Commission
• 2005 – Programme review on energy statistics
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(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.
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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?
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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
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Recommendations and conclusions 2
• One option in IRES – volume-value-price in all chapters.
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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)
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