Increases in energy taxation in European Union countries have had the effect of halting the fall in natural gas prices and increasing electricity prices, Eurostat, the EU's statistics agency, estimates, based on recent data on electricity and natural gas prices. gas.
In particular, in the first half of 2024, average household electricity prices in the EU registered a slight increase compared to the second half of 2023, from €28,3 per 100 kWh to €28,9 per 100 kWh.
As noted, there was a slight increase in electricity prices by +2%, while in the same period a slight decrease was recorded in the cost of energy, supply and network services (-2% compared to the second half of 2023), as EU governments reduced subsidies, allowances and tax cuts for consumers, resulting in an overall tax increase of 16% compared to the second half of 2023. Compared to the first half of 2023 (29,4, 100 euros per XNUMX kWh), prices saw a slight decrease.
Regarding average prices for natural gas, in the first half of 2024 a decrease of 7% was recorded compared to the same period in 2023, from 11,9 euros per 100 kWh to 11 euros per 100 kWh. Prices were also reduced by 2% compared to the second half of 2023 (11,3 euros per 100 kWh). Excluding taxes, natural gas prices were down 12% and 10% respectively.
In the first half of 2024, 24,3% of electricity bills accounted for 24,3%, an increase of 5,8 percentage points (pp) compared to the first half of 2023 (18,5%). This share also increased in the same period in natural gas bills, from 22,8% to 27,4% (+4,6 p.m.).
Among the Member States, the highest household electricity prices (including taxes) in the first half of 2024 were recorded in Germany (39,5 euros per 100 kWh), Ireland (37,4 euros) and Denmark (37,1, XNUMX euro).
The lowest prices were registered by households in Hungary (10,9 euros per 100 kWh), Bulgaria (11,9 euros) and Malta (12,6 euros).
Electricity prices including taxes (in national currency) fell in the first half of 2024 compared to the same period in 2023 in 16 EU Member States and rose in 11. Price reductions were partially offset by the reduction or abolition of of consumer relief measures at national level.
Natural gas prices fell over the same period in 15 of the 24 EU countries for which data is available (Cyprus does not use natural gas).
Natural gas prices (in national currencies) fell the most in Lithuania (-60%), Greece (-39%) and Estonia (-37%).
Among the countries that registered an increase, prices rose the most in Italy (+16%), France (+13%) and Romania (+7%), while the price remained unchanged in Slovenia.
In the industry sector, all countries recorded reductions in natural gas prices, highlighting a definite downward trend across the EU.
Source: KYPE