Household electricity prices in EU ‘lowest in Bulgaria’ – Eurostat

Household electricity prices in EU ‘lowest in Bulgaria’ – Eurostat

In the second half of 2018, household electricity prices in the European Union were lowest in Bulgaria, at 10 euro per 100 kWh, according to figures released on May 21 by EU statistics agency Eurostat.

However, expressed in purchasing power standards (PPS), a common reference eliminating general price level differences between countries, it can be seen that the lowest household electricity prices were found in Finland (13.7 PPS per 100 kWh), Eurostat said.

On average, household electricity prices in the EU increased to 21.1 euro per 100 kWh (+3.5 per cent), between the second half of 2017 and the second half of 2018.

Nevertheless, the average EU household electricity price was only 0.1 euro per 100 kWh higher than in the second half of 2015, the former peak in the past 10 years.

Across the EU member states, household electricity prices in the second half of 2018 ranged from 10 euro per 100 kWh in Bulgaria to about 30 euro per 100 kWh in Denmark, Germany and Belgium.

Household gas prices increased by 5.7 per cent on average in the EU between the second semester of 2017 and 2018 to 6.7 euro per 100 kWh.

This is still 0.5 euro per 100 kWh lower than in the second half of 2014, the peak of gas prices in the past 10 years, Eurostat said.

Among member states, household gas prices in the second half of 2018 ranged from below four euro per 100 kWh in Hungary, Romania and Croatia to about nine euro per 100 kWh in the Netherlands, Spain, Denmark and Italy and more than 12 euro per 100 kWh in Sweden.

Taxes and levies in the EU made up on average over a third (37 per cent) of the electricity price charged to households in the second half of 2018, and about a quarter (27 per cent) of the gas price.

Across the EU member states, the highest increase in household electricity prices in national currency between the second half of 2017 and the second half of 2018 was registered in Cyprus (+19.6 per cent), followed by Spain (+13.8 per cent), the Netherlands (+9.7 per cent), the United Kingdom (+8.6 per cent), Ireland (+7.8 per cent) and Estonia (+7.5 per cent).

Decreases were observed in only four countries: Latvia (-4.5 per cent) followed by Poland (-2.5 per cent), Germany (-1.6 per cent) and Lithuania (-0.9 per cent).

Expressed in euro, average household electricity prices in the second half of 2018 were lowest in Bulgaria (10.1 euro per 100 kWh), Lithuania (11 euro) and Hungary (11.2 euro) and highest in Denmark (31.2 euro), Germany (30 euro) and Belgium (29.4 euro). The average electricity price in the EU was 21.1 euro per 100 kWh.

In PPS, the lowest household electricity prices were found in Finland (13.7 PPS per 100 kWh) and Luxembourg (13.8), followed by the Netherlands (15.2), Malta (15.7), France (16.4), Sweden (16.5) and Lithuania (17.3).

The highest prices expressed in PPS were registered in Portugal (28.2), Germany (28.0), Spain (27.4), Belgium (26.6), Romania (26.3), Cyprus (24.5) and Poland (24.3).

Between the second half of 2017 and the second half of 2018, household gas prices in national currency increased in 20 EU countries.

The highest increases were observed in Ireland (+17.3 per cent), followed by Bulgaria (+16.5 per cent), Sweden (+16.4 per cent) and Romania (+16.3 per cent). In contrast, decreases were recorded in Croatia (-2.5 per cent), Portugal (-1.9 per cent), Hungary (-0.4 per cent) and Germany (-0.2 per cent).

Expressed in euro, average household gas prices in the second half of 2018 were below five euro per 100 kWh in Hungary and Romania (both 3.5 euro per 100 kWh), Croatia (3.6 euro), Lithuania (4.1 euro), Estonia and Luxembourg (both 4.3 euro), Bulgaria (4.4 euro), Poland and Latvia (both 4.5 euro), and Slovakia (4.6 euro). Gas prices above 10 euro per 100 kWh were recorded in Sweden (12.2), followed by Italy (9.5), Denmark (9.1), Spain (8.8) and the Netherlands (8.6). The average gas price in the EU was 6.7 euro per 100 kWh.

Adjusted for purchasing power, it can be seen that, relative to the cost of other goods and services, the lowest household gas price was recorded in Luxembourg (3.5 PPS per 100 kWh), ahead of the United Kingdom (4.7) Croatia and Estonia (both 5.6) as well as Belgium and Germany (both 5.7). In contrast, the highest prices were observed in Sweden (10.1), Spain (9.7), Italy and Portugal (both 9.6).

In the second half of 2018, taxes and levies made up the largest contribution to the price of gas for households in Denmark (54 per cent of household gas price) and the Netherlands (52 per cent).

They were followed by Sweden (42 per cent), Italy (35 per cent) and Slovenia (30 per cent).

At the opposite end of the scale, the smallest contributions were registered in Luxembourg and the United Kingdom (both 10 per cent), ahead of Greece (14 per cent), Romania (16 per cent) and Bulgaria, Czech Republic, Ireland and Slovakia (all 17 per cent).

At EU level, taxes and levies accounted on average for about a quarter (27 per cent) of household gas prices in the second half of 2018, Eurostat said./ibna