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Eurostat - Europe: Electricity prices in the first half of 2022

In the first half of 2022, average household electricity prices in the EU increased sharply compared with the same period in 2021, from €22.0 per 100 kWh to reach €25.3 per 100 kWh. Average gas prices also increased compared with the same period in 2021 from €6.4 per 100 kWh to €8.6 per 100 kWh in the first half of 2022. More recently, wholesale prices for electricity and gas have increased substantially across the EU. Energy and supply costs impacted by the current geopolitical situation, the Russian military aggression in Ukraine, mainly drove the increase.

Compared with a year ago, the weight of taxes and levies in the final electricity and gas bills charged to households in the EU in the first half of 2022 decreased significantly as Member States put in place governmental allowances and subsidies to mitigate high-energy costs. Compared with the first half of 2021, the share of taxes in the electricity bill dropped sharply from 39% to 24% (-15.5%) and in the gas bill from 36% to 27% (-8.6%).

This information comes from data on electricity and gas prices published recently by Eurostat.

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Electricity prices increased in all Member States except five
Household electricity prices rose in 22 EU Member States in the first half of 2022, compared with the first half of 2021. The largest increase (expressed in national currencies) was registered in Czechia (+62%), ahead of Latvia (+59%) and Denmark (+57%).

Data indicates five decreases in household electricity prices among Member States: the Netherlands (-54%), Slovenia (-16%), Poland (-3%), Portugal and Hungary (both -1%). The drops in the Netherlands, Slovenia and Poland were connected to government subsidies and allowances, while in Hungary, prices are regulated.

Expressed in euro, average household electricity prices in the first half of 2022 were lowest in the Netherlands (€5.9 per 100 kWh), Hungary (€9.5) and Bulgaria (€10.9) and highest in Denmark (€45.6), Belgium (€33.8), Germany (€32.8) and Italy (€31.2).

Electricity prices for household consumers

For household consumers in the EU (defined for the purpose of this article as medium-sized consumers with an annual consumption between 2 500 kWh and 5 000 kWh), electricity prices in the first half of 2022 were highest in Denmark (€0.4559 per kWh), Belgium (€0.3377 per kWh), Germany (€0.3279 per kWh) and Italy (€0.3115 per kWh). The lowest electricity prices were registered in the Netherlands (€0.0595 per kWh), Hungary (€0.0948 per kWh) and Bulgaria (€0.1093 per kWh). A kilowatt-hour for Danish household consumers costed 80.5 % more than the EU average price, whereas households in the Netherlands had to pay 76.4 % less than the EU average. This difference is mainly driven by subsidies and allowances given to household consumers in the Netherlands.

The EU average price in the first semester of 2022 — a weighted average using the most recent (2022) data for electricity by household consumers — was €0.2525 per kWh.

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Electricity prices for non-household consumers

Non-household consumers are defined for the purpose of this article as medium-sized consumers with an annual consumption between 500 MWh and 2 000 MWh. As depicted in Figure 6, electricity prices in the first half of 2022 were highest in Greece (€0.3042 per kWh) and Italy (€0.2525 per kWh). The lowest prices were observed in Finland (€0.0808 per kWh) and Sweden (€0.1117 per kWh). The EU average price in the first semester of 2022 was €0.1833 per kWh. The aggregates are weighted averages taking into consideration the average consumption in each band.

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