Electricity prices for households in Bulgaria were the second lowest in the EU in the second half of 2023, reports Eurostat

Household electricity and gas bills in the European Union fell in the second half of 2023 following a noticeable rise in prices that began even before the Russian invasion of Ukraine and continued throughout 2022, the European statistics agency Eurostat said, publishing aggregated data on electricity prices and gas for households in the EU.

In the second half of last year, average household electricity prices in the EU decreased (€28.5 per 100 kWh) compared to the first half (€29.4 per 100 kWh), but also rose slightly compared to the second half of 2022 (€28.4 per 100 kilowatt hours).

Energy price, supply cost and transmission price stabilized in the first half of 2023, then weakened in the second half, but still remained at high levels compared to their levels before the price peak in 2022.

Average household gas prices in the EU in the second half of 2023 decreased (€11.3 per 100 kWh) compared to the first half of 2023 (€11.9 per 100 kWh) and the second half of 2022 .(11.4 euros for 100 kilowatt hours). The decline in energy, supply and transmission costs, which began already in the first half of 2023, continued its downward trend.

For non-household consumers, this reduction was more pronounced.

During the period from January to June 2023, electricity prices for households in Bulgaria were the second lowest in the EU – 11.9 euros per 100 kilowatt hours, with electricity being cheaper only in Hungary (11.3 euros per 100 kilowatt hours).

Expressed in purchasing power parity, electricity for households in Bulgaria cost 19.77 monetary units in the second half of 2023.

Gas prices for Bulgarian households for the same period were 11.66 monetary units, expressed in purchasing power parity.

Electricity prices fell in 13 EU countries in the second half of 2023.

Household electricity prices fell in 13 EU countries and rose in the remaining 14 member states in the second half of 2023 compared to the first half of 2022.

For non-household consumers, electricity prices in the second half of 2023 decreased in 17 countries, which also led to a 4.6 percent drop in prices across the EU. The drop in prices was the result of market dynamics, but was partially offset by the reduction or elimination of consumer relief measures at the national level, Eurostat experts explain.

Presented in the respective national currencies of the member countries, the most significant increase in the price of electricity in the second half of 2023 compared to the first half of 2022 was registered The Netherlands (+86 percent), followed by the Czech Republic (+83 percent), Poland (+35 percent) and Germany (+20 percent).

On the other end of the scale, for the same period, electricity became cheaper in Denmark (-39 percent), Spain (-30 percent) and Sweden (-20 percent).

Expressed in euros, average electricity prices (including all taxes and fees) for households in the second half of 2023 were the lowest in Hungary (11.3 euros for 100 kilowatt hours), Bulgaria (11.9 euros per 100 kilowatt hours) and Malta (12.8 euros per 100 kilowatt hours), and the highest in Germany (40.2 euros per 100 kilowatt hours), Ireland (37.9 euros per 100 kilowatt hours) and Belgium (37.8 euros per 100 kilowatt hours).

Natural gas prices: the most significant price increase in Lithuania and the largest decrease in Greece

Residential gas prices declined in the second half of 2023, driven mostly by lower energy costs. However, taxes are gradually returning to pre-crisis levels after their cuts in 2022.

For non-household gas consumers, price cuts were more evident in the second half of 2023.

Relative to the second half of 2022, in the second half of 2023 gas prices (expressed in national currencies) increased the most in Lithuania (+68 percent) and have decreased by the most in Denmark (-39 percent).

In terms of gas prices for household consumers – a total of 12 countries reported an increase, while the remaining 12 gas users reported a decrease in prices.

In the industrial sector, all but three EU countries reported price declines, indicating a clear downward trend in gas price levels.

They reported the sharpest increases in gas prices Poland (+32 percent), Slovakia and Germany (+22 percent each), while Greece (-42 percent), Denmark (-41 percent) and Bulgaria (-40 percent) had the biggest reductions in blue fuel prices in the second half of last year on an annual basis.

In the first six months of last year, expressed in euros, average gas prices for households were the lowest in Hungary (3.3 euros per 100 kilowatt hours), Croatia (4.6 euros per 100 kilowatt hours) and Romania (5.6 euros per 100 kilowatt hours), and the highest in Sweden (20.7 euros per 100 kilowatt hours), Ireland (16.4 euros per 100 kilowatt hours) and the Netherlands (24.8 euros per 100 kilowatt hours).