Filenews 31 October 2022
A sharp increase was recorded in the average electricity prices in the European Union in the first half of 2022 compared to the first half of 2021, from €22.0 per 100 kilowatt-hours (kWh) to €25.3 per 100 kWh, according to data released by Eurostat, the EU's statistical office.
In Cyprus, electricity prices increased by 32% in the same period, from €19.8 per 100 kWh in the first half of 2021 to €26.1 per 100 kWh in the first half of 2022.
An increase was recorded over the same period in the EU average gas prices, from €6.4 per 100 kWh to €8.6 per 100 kWh.
As mentioned, wholesale electricity and gas prices have increased significantly across the EU, mainly as a result of the effects of the Russian invasion of Ukraine.
The size of taxation and other charges on final electricity and gas bills for EU households decreased considerably in the first half of 2022 compared to the first half of 2021, as Member States imposed a measure to limit prices.
In particular, taxes and charges were reduced from 39% to 24% (15.5% reduction) of electricity bills and from 36% to 27% (8.6% reduction) of gas bills.
Increase in electricity prices in all but five Member States
According to the data, electricity prices for households increased in 22 Member States in the first half of 2022. The largest increases (as recorded in national currencies) were recorded in the Czech Republic (an increase of 62%), Latvia (59%) and Denmark (57%).
Prices recorded a decrease in five Member States: the Netherlands (down 54%), Slovenia (16%), Poland (3%) and Portugal and Hungary (both 1%).
In the Netherlands, Slovenia and Poland the reductions are linked to these countries' policies of making grants and financing, while in Hungary prices are regulated.
The lowest average electricity prices for households in euro in the first half of 2022 were recorded in the Netherlands (€5.9 per 100 kWh), Hungary (€9.5 per 100 kWh) and Bulgaria (€10.9 per 100 kWh).
The highest averages over the same period were recorded in Denmark (€45.6 per 100 kWh), Belgium (€33.8 per 100 kWh), Germany (€32.8 per 100 kWh) and Italy (€31.2 per 100 kWh).
Increase in gas prices in almost all Member States
An increase was also recorded in gas prices for consumption by households in 23 of the 24 states for which data are available (apart from Cyprus, data is not available for Malta and Finland).
In particular, the largest increases were recorded in Estonia (an increase of 154%), Lithuania (110%) and Bulgaria (108%), mainly due to the increase in energy costs.
The only country with a very small decrease was Hungary (a decrease of 0.5%) where prices are regulated.
The lowest gas prices for households in the first half of 2022 were recorded in Hungary (€2.9 per 100 kWh), Croatia (€4.1 per 100 kWh) and Latvia (€4.6 per 100 kWh), and the highest in Sweden (€22.2 per 100 kWh), Denmark (€16.0 per 100 kWh) and the Netherlands (€12.9 per 100 kWh).
