Resource rent is the income from exploiting a natural resource that remains after all necessary input factors have received their market-based remuneration. In this report, we use National Accounts data from Statistics Norway to calculate the resource rent in the natural resource industries in Norway in the period from 1984 to 2022 (Chapter 3). These industries include power production, aquaculture, forestry, fishing and hunting, agriculture, mining and oil and gas extraction.
We also do a separate analysis of the resource rent in onshore wind power for the period 2018-2022 (Chapter 4). Since the National Accounts (NR) does not split the power sector by energy source (water, wind and heat), we base this calculation on sources other than NR data. The production value in the wind power industry is calculated based on hourly data (production and spot prices) in the price area where the production took place.
The calculations based on National Accounts data show that in 2022 there was a positive resource rent in all industries except agriculture.
We find that the resource rent from the wind power industry was negative until 2020, and then positive. In 2022, the power prices were unusually high and the resource rent from the wind power industry is estimated at 7.6 billion Norwegian kroner.