Household bills for electricity and natural gas in the EU fell in the second half of 2023, following their rise that began even before the start of the Russian war in Ukraine and reached record levels in 2022, data from the official European statistics agency Eurostat showed.
In the second half of 2023, average household electricity prices in the EU fell to €28.5 per 100 kilowatt hours (kWh) compared to the first half of the year, when they were at €29.4 per 100 kWh, and slightly have risen compared to the second half of 2022, when they were at the level of 28.4 euros per 100 kWh. The price of energy, supply and network, which stabilized in the first half of 2023, showed a decline in the second half, but still remains at high levels compared to costs before the price peak in 2022.
According to Eurostat, average electricity prices for households in the second half of 2023, expressed in euros, were lowest in Hungary (from €11.3 per 100 kWh) and Bulgaria (€11.9), followed by Malta (12.8 euros), while the highest were in Germany (40.2 euros), Ireland (37.9 euros) and Belgium (37.8 euros).
The data also show that electricity prices for households fell in 13 EU countries and rose in the rest in the second half of 2023 compared to the second half of 2022. For non-household consumers, prices in the second half of 2023 have decreased in 17 member countries, which led to an overall decrease in the EU by 4.6 percent. The reduction in prices is the result of market dynamics, but is partially offset by the reduction or removal of consumer relief measures at national level, European statistics note.
In national currency, the highest growth in electricity prices for households in the second half of 2023 was reported in the Netherlands (a jump of as much as 86%), followed by the Czech Republic (by 83%), Poland (by 35%) and Germany (by 20%), while the biggest reductions in electricity, measured in national currency, were registered in Denmark (down 39%), Spain (down 30%) and Sweden (down 20%).
At the same time, household gas prices fell in the EU in the second half of 2023, mainly as a result of lower energy costs and to a lesser extent taxes, which are gradually returning to pre-crisis levels after cuts in 2022. For non-household consumers, the reductions in gas prices were more evident in the second half of 2023, notes Eurostat.
Between the second half of 2022 and the second half of 2023, gas prices (in national currencies) increased the most in Lithuania (up 68%), followed by Poland (up 32%), Slovakia (up 22 %) and Germany (by 22%), while at the same time they decreased the most in Greece (down by 42%), Denmark (by 41%) and Bulgaria (by 40%).
For household consumers, a total of 12 EU countries reported gas price increases, while the remaining 12 gas users reported price decreases. In the industrial sector, all but three countries reported declines in gas prices, indicating a clear downward trend in price levels for the blue fuel.
Expressed in euros, average household gas prices in the second half of 2023 were lowest in Hungary (€3.3 per 100 kWh), Croatia (€4.6) and Romania (€5.6), and the highest in Sweden (€20.7), Ireland (€16.4) and the Netherlands (€24.8).
