Substantial Increases in Energy Consumption

Energy consumption has been rising strongly since the spring of 1989. In the first half of 1988, 3.7 percent more energy was consumed than in the previous year. The rate of increase would have been even higher if the winter had not been so mild. The hefty increase is mainly the result of the current economic boom, with its high income gains and persistently low energy prices. Consumption shifted in favour of hydro-carbons and away from other energy sources. Domestic energy production was on the decline, and purchases from abroad increased. Both higher import volumes and import prices increased the energy bill in the trade balance.