Electricity price statistics (2024)

Electricity prices for household consumers

Highest electricity prices in Denmark and Belgium

For household consumers in the EU (defined for the purpose of this article as medium-sized consumers with an annual consumption between 2500Kilowatt hours (KWh) and 5000KWh), electricity prices in the second half of 2022 were highest in Denmark (€0.5871 per KWh), Belgium (€0.4489 per KWh), Ireland (€0.4199 per KWh) and Czechia (€0.3844 per KWh) - see Figure1. The lowest electricity prices were registered in Hungary (€0.1084 per KWh) and Bulgaria (€0.1147 per KWh). For Danish household consumers, the per KWh cost was more than double the EU average price, whereas households in the Netherlands paid 38.1% less than the EU average.

The EU average price in the second half of 2022 — a weighted average using the most recent (2022, semester 2) data for electricity by household consumers — was €0.2840 per KWh.

Figure 1: Electricity prices for household consumers, second half 2022
(€ per KWh)
Source: Eurostat (nrg_pc_204)

Figure2 depicts the development of electricity prices for household consumers in the EU since the first half of 2008. The price without taxes, i.e., the energy, supply and network, increased slightly faster than the overall inflation rate (HICP) until the second half of 2013 when it was €0.1338 per KWh. From 2014 to 2019, it remained relatively stable. In the second half of 2022, the highest ever price observed in the collection was recorded. The weight of the taxes increased by 23.8 percentage points (pp) from 45.4% in the first half of 2008 to 69.2% in the first half of 2019 but substantially decreased in the second half of 2022 (18.3%). This reflects the impact of the measures to alleviate EU household electricity costs.

For the prices adjusted for inflation, the total price for household consumers, i.e., including all taxes, was €0.2840 per KWh in the second half of 2022 compared with €0.1604 per KWh in the first half of 2008. This price is higher than the actual price including taxes, whereas the actual price excluding taxes is approximately on the same level as the 2008 price adjusted for inflation.

Figure 2: Development of electricity prices for household consumers, 2008-2022
(€ per KWh)
Source: Eurostat (nrg_pc_204)


Weight of taxes and levies differs greatly between EU Member States

Figure3 shows the proportion of taxes and levies in the overall electricity retail price for household consumers. In the EU, the share of taxes in the second half of 2022 was the least in the Netherlands, where the values were in fact negative (-136.8%). The Netherlands gave allowances with the most impact to household consumers. The relative share of taxes was highest in Denmark, making up 38% of the total price. The average share of taxes and levies at EU level was 15.5%, a decrease of 8% when compared with the first half of 2022, mostly driven by subsidies and allowances. The VAT in the EU represented 13% of the total price. It ranged from 4.8% in Malta to 25.8% in Sweden.

Figure 3: Share of taxes and levies paid by household consumers for electricity, second half 2022
(%)
Source: Eurostat (nrg_pc_204)


Largest increase in electricity prices in Czechia, Latvia and Denmark

Figure4 shows the percentage change in electricity prices for household consumers including all taxes and VAT from the second half of 2021 compared with the second half of 2022. For comparison purposes the national currencies were used. For energy prices, comparing year on year instead of semester on semester is most meaningful to avoid seasonal effects. However, these seasonal effects are less prominent in the recent semesters. Year on year, the total prices increased in all except two EU Member States. The largest increase was observed in Romania (112.0%), followed by Czechia (96.5%) and Denmark (70.3%). Energy and supply costs mainly drove the increase. The Netherlands (-6.8%) and Malta (-3.1%) were the two EU countries to record the largest decreases. These decreases were driven by measures taken to alleviate electricity costs.

Figure 4: Change in electricity prices for household consumers compared with previous year's same semester, second half 2022
(%)
Source: Eurostat (nrg_pc_204)


Electricity prices in purchasing power standard

In Map 1, electricity prices for household consumers in the first half of 2022 are shown in purchasing power standard (PPS), grouping the available countries in six categories, with electricity price categories ranging from above 26.9 PPS per 100 KWh to below 15.3 PPS per 100 KWh. The final burden for the consumer depends on their own consumption. Electricity prices based on PPS were highest in Romania (65) and Czechia (49). The lowest electricity prices based on the purchasing power standard were observed in the Netherlands (11.62) and Malta (14.6).

Map 1: Electricity prices for household consumers, first half 2022
(PPS per 100 KWh)
Source: Eurostat (nrg_pc_204)


Share of transmission and distribution costs for household electricity consumers

Figure5 presents the share of transmission and distribution costs for household electricity consumers. Transmission and distribution costs are only reported once a year, at the end of the second semester. Distribution costs account for the largest share by far, when compared with the transmission costs. This is normal for all types of networks including the electricity system.

Transmission network is used for transmitting bulk amounts of energy over long distances. The distribution network is usually the part of the system where the consumers are connected. The distribution network is denser than the transmission network, therefore, its share in the costs is expected to be higher.

Countries with lower population density require a more extensive transmission network to meet their needs. Its costs are higher when compared with the countries with higher population density. Smaller, densely populated countries use mostly their own distribution network.

In 2022, Luxembourg (100.0%), Slovakia (91.55%) and Finland (90.0%) had the highest shares of distribution costs. On the other hand, Hungary (41.1%), Lithuania (36%) and Ireland (32%) had the highest shares of transmission costs in 2022.

Figure 5: Share of transmission and distribution costs paid by household consumers for electricity, 2022
(%)
Source: non-published Eurostat data

Data sources

Defining household consumers

Throughout this article, references to household consumers relate to the medium standard household consumption band with an annual electricity consumption between 2500 KWh and 5000 KWh. All figures are consumer retail prices and include taxes, levies and VAT. The full datasets for electricity prices for households consumers are available at:

  • Electricity prices for household consumers - bi-annual data (from 2007 onwards) (nrg_pc_204)
  • Electricity prices components for household consumers - annual data (nrg_pc_204_c)

and

  • Share for transmission and distribution in the network cost for gas and electricity - annual data (nrg_pc_206)

Defining non-household consumers

Throughout this article, references to non-household consumers relate to the medium standard non-household consumption band with an annual consumption of electricity between 500 MWh and 2000 MWh. In this article, prices correspond to the price of electricity production, its supply, the network costs and includes all non-recoverable taxes and levies. The full datasets for electricity prices for non-households consumers are available at:

  • Electricity prices for non-household consumers - bi-annual data (from 2007 onwards) (nrg_pc_205)
  • Electricity prices components for non-household consumers - annual data (nrg_pc_205_c)

and

  • Share for transmission and distribution in the network cost for gas and electricity - annual data (nrg_pc_206)

Methodology

Prices in national currencies are converted into euro using the average exchange rate of the period for which the prices were reported.

Prices are always compared with the prices of the same semesters (i.e. year on year) in order to avoid seasonal effects.

In 2016, Regulation (EU) 2016/1952 entered into force. It defines the obligation for the collection and dissemination of electricity prices for household and non-household consumers. Until 2016, the domain of non-household consumers was defined as industrial consumers, but reporting authorities were allowed to include other non-household consumers. Regulation (EU) 2016/1952 changed the definition from industrial to non-household consumers to have a unique methodology for all reporting countries. Until January 2017, the reporting authorities provided their price data for the household sector on a voluntary basis.

Electricity tariffs or price schemes vary from one supplier to another. They may result from negotiated contracts, especially for large non-household consumers. For smaller consumers, they are generally set according to a number of characteristics including the amount of electricity consumed. Most tariffs also include some form of fixed charge. There is, therefore, no single price for electricity. In order to compare prices over time and between EU Member States, this article shows information for consumption bands for household consumers and for non-household consumers. Electricity prices for household consumers are divided into five annual consumption bands and, for non-household consumers, into seven different consumption bands.

The prices collected cover average prices over a period of six months (a half-year or semester) from January to June (first semester) and from July to December (second semester) of each year. Prices include the basic price of electricity, transmission and distribution charges, meter rental, and other services. Electricity prices for household consumers presented in this article include taxes, levies, non-tax levies, fees and value added tax (VAT) as this generally reflects the total price paid by household consumers. As non-household consumers are usually able to recover VAT and some other taxes, prices for non-household consumers are shown without VAT and other recoverable taxes/levies/fees. The unit for electricity prices is that of euro per kilowatt-hour (€ per KWh).

Allowances in the reference period 2022 Semester 1 and Semester 2

Belgium:1. At the start of 2022 several specific taxes have been abolished and (partially) replaced by a new federal excise tax. 2. VAT reductions from 21% to 6%a. Household electricity customers: since 1 March 2022b. Household gas customers: since 1 April 2022c. Non-household electricity customers: since 1 August 20223. From November 2022 until March 2023 Belgian household gas and electricity conditionally receive a financial monthly support of €61 (Electricity) and €135 (Gas).a. Customers which are entitled to the so called 'Social Tariff' (a regulated price for approx. 1/6 of all household customers) are not eligible for this financial support.b. Customers with a fixed contract that dates before the start of the surge of the energy prices are not eligible for this financial supportc. Customers are only eligible for their first residency.d. This financial support scheme is independent of the (high) energy tariffs and also independent of the level of consumption. e. Household customers with an income above a certain threshold will have to pay back (partially) this support at a later date (via their general taxes).


Bulgaria: In response to the increase in electricity prices, the government has introduced a temporary compensation scheme for non-household end consumers. Under this scheme, non-household consumers receive a monthly compensation, calculated specifically for each individual consumer, through their electricity supplier. The amount of the compensation is deducted from the total final price after VAT has been charged on each monthly invoice.Household electricity prices are set and regulated by the Energy and Water Regulatory Commission and are not affected of the dynamically changing market situation. The government has imposed a moratorium on prices for household customers for the period 16.12.2021-31.03.2022.

From 1 July 2022, according to the decision of the Energy and Water Regulatory Commission, the price component Obligation to society has been set to BGN 0 per MWh. In the 2nd semester of 2022, the Bulgarian government continues to apply the program to compensate the final non-household customers. The program envisages a temporary mechanism to support non-household customers through electricity suppliers in the form of a monthly compensation, calculated for each individual customer. The compensations are deducted from the total final price after VAT has been charged on each monthly invoice.There are certain specifics in the compensation of non-households customers in the 2nd semester of 2022, as follows:1.The compensation is calculated in the amount of 100% of the difference between the real average monthly exchange price of the "day-ahead" segment of "Bulgarian Independent Energy Exchange" (EAD), for the relevant month, and the base price of BGN 250/MWh for the period from July 1, 2022 to December 31, 2022. 2.For customers with prices below the base price of BGN 250/MWh, the compensation is not applied.3.To customers with a price exceeding the base price by an amount less than the amount of the compensation calculated according to p.1, compensation is paid in a reduced amount, so that the resulting price for the customer after compensation is not lower than 250.

Czechia:In addition to introducing a compensation scheme for electricity and natural gas prices, the government granted a temporary waiver of VAT on natural gas (LPG included) and electricity. The waiver applies to all supplies from November 2021 onwards.Saving tariff - subsidy for the payment of energy costs for household customers - was introduced by government decree (No. 262/2022 Coll. of August 24, 2022) for the months of October to December 2022. The amount of the contribution was determined by the distribution rate negotiated at the take-off points of household customers, where the contribution was taken into account. The contribution amounted to CZK 3500 for distribution rates DA-DD and CZK 2000 for distribution rate DE. The total amount allocated to this "tariff" was published in the press release of the Ministry of Finance ("Implementation of the state budget of the Czech Republic for October 2022", dated November 1, 2022). The Fee for supported energy sources (POZE) was waived from October 2022 to December 2023 Price Decision of the Energy Regulatory Office No. 8/2022 of September 2, 2022 was released for October to December 2022.

Denmark: The Danish government in August 2022 payed out a lump sum (DKK 6000) per households affected by high cost for heating – in case they at the same time have had a relative low income in 2020.Regarding users of electricity for heating, DKK 0.23 billion were paid. It was considered that only households in size group DD and DE could be subject for compensation. In average the compensation were compiled to DKK 0.06 per Kwh in group DD and 0.01 in group DE. Only about 1.5% of the households got compensation because of heating by electricity.

Germany:There were no subsidies for electricity or natural gas in any form in Germany in the first half year. An electricity levy was only cut sharply, as had been planned for a long time, and will be eliminated altogether in the second half year of 2022.

Estonia:-Energy cost compensation in Electricity and Gas consumer 2022S1Automatic actions:1.Natural gas support measure for business consumersSupported period: February to March 2022Non-domestic consumers will be compensated for the natural gas price of €2.74 per megawatt hour. The support extends to all entrepreneurs and is automatically reflected in the invoices.2.Price limit of electricity and gas bills for domestic consumersCompensation period: January to March 2022A price limit has been established for electricity and gas bills, the remaining part of which is automatically compensated by the state for private consumers:

1) price ceiling for domestic consumers of 12 cents per KWh (+ sales tax) for electricity consumption up to 650 KWh per month. This means that if the price of electricity, either on the stock exchange or in a fixed-price package, exceeds 12 cents per KWh, the state pays for this part of the electricity bill. The price ceiling is set for the cost of electricity as a commodity and VAT is added to it, 12 s/KWh does not include the cost of network service, excise duty or renewable energy fee.

2) price ceiling for domestic consumers of 6.5 cents per KWh or €0.6792 per m3 (+VAT) for gas consumption up to 2.75 MWh per month. The part exceeding the price floor is compensated. The consumer does not have to do anything to receive compensation, the energy seller receives an invoice in which the part exceeding the price limit has already been deducted.Legal entities that sell electricity to domestic consumers, but are not electricity or gas sellers (e.g. entrepreneurs who manage apartment buildings and bill electricity or gas instead of cooperatives), must submit an application to the Environmental Investment Centre themselves to receive compensation .Apartment or garden cooperatives that have not received an invoice with a discount from the electricity or gas seller should also submit an application to the Centre for Environmental Investments in order to receive a discount.

3.Electricity network fee compensation for everyoneCompensation period: October 2021 to March 2022 The electricity network fee is compensated to the extent of 50% to all electricity consumers - it is automatically reflected in the electricity bills as half the cost of the network service. Until December, all consumers were compensated 50%, with the new measure (see previous), from January 2022 institutions/companies will be compensated 100% of the electricity network fee.

4.Gas network fee compensation for everyoneCompensation period: December 2021 to March 2022All gas consumers will be reimbursed 100% of the gas network service fee. In order to receive a discount, consumers do not have to do anything separately, the state covers the network service for the end user on the bills received for gas consumption, and the bill received by consumers is less by this amount.On request:5.Reimbursement of electricity, gas and district heating bills for families with up to average incomeReimbursement period: September 2021 to March 2022Up to middle-income families will be reimbursed 80% of the price increase of a specific type of energy (electricity, gas or room heating) on the basis of electricity, gas and heating bills. For this, an application must be submitted to the local government.A household qualifies as a beneficiary if its net income is below the median level. It is calculated at €1126 per month for one person in the family, the same amount is weighted at 0.5 (€563) for each subsequent household member aged 14 year and over, and 0.3 (€338) for children aged 13 years or younger.A more precise, final calculation of the compensation is made by the local government on the basis of energy bills.

For April to September 2022 there was no compensation.

-Energy cost mitigation benefits from 1 October 2022 to 31 March 2023 on household consumersThe state has developed various temporary compensations to mitigate the effects of rising energy prices on household consumers. They apply to bills issued to consumers for energy consumed in the period from 1 October 2022 to 31 March 2023. Compensations are automatic, i.e. the seller already reduces the unit price of electricity, gas or district heating from the energy bills received by household consumers.Electricity price compensation1. As of October 1, 2022, the state-owned company Eesti Energia has the obligation to sell electricity as a universal service to household consumers and persons who mediate electricity for household consumers. Universal service will be provided to small business customers from 1 November.In essence, the consumer can choose a fixed package, the price of which is formed outside the stock exchange and which is formed on the basis of the production price agreed with the Competition Authority. Although the obligation to provide universal service is assigned to Eesti Energia AS, universal service can be provided by all electricity sellers. Who has the right to use the universal service•home consumers,•home consumers are supplied by persons such as apartment associations, administrative companies, local government units (social apartments) and non-profit organizations to the extent necessary to supply home consumers with electricity in, for example, an apartment, cottage, garage or detached house.•micro-entrepreneurs, i.e. companies that employ less than 10 people and an annual turnover or annual balance sheet volume does not exceed €2million,•small businesses, i.e. companies with less than 50 employees and an annual turnover or annual balance sheet volume does not exceed €10million,•self-employed up to 1 GWh per year,•foundations up to 1 GWh per year,•non-profit organizations up to 1 GWh per year.•local government authorities•institutions managed by the authority of the local government unit

2. Houshold consumers of electricity are compensated from the monthly average price of electricity without VAT, which exceeds 8 cents per kilowatt-hour (KWh), up to 5 cents/KWh.For example, if a consumer buys electricity at an average monthly price of 15 cents/KWh, the price paid by the consumer would be 10 cents/KWh with the help of compensation.The compensation is based on the household consumer's average monthly electricity costs. For example, if the consumer's bill for electricity was €100 without VAT for a consumption of 500 KWh, the average price of electricity for that month without VAT will be 20 cents/KWh.With the help of the compensation, the cost of electricity for the average electricity consumer will be reduced by about 21%. Recipients of compensation also include consumers of universal electricity service.

3. Gas price compensationThe state compensates the domestic consumer of gas with 80% of the part of the average monthly gas price that exceeds 80 euros/MWh without VAT, or €0.8264 per m3. At the same time, the consumption of up to 2.6 MWh (or 251.7 m3), which is the monthly gas consumption of an average private house, is compensated.With the support, the cost of the average gas consumer will be reduced by about 54% at a gas price of €270/MWh.For example, if during the month the consumer spent an average of €230/MWh (without sales tax) on gas at a consumption volume of 2.6 MWh, then after the compensation is applied, the price paid by the consumer would be €110/MWh.


Ireland: Due to the recent increases in energy prices, Ireland has introduced measures to alleviate the burden on final consumers. Domestic electricity customers, including pay as you go customers, received a one-off exceptional payment of €200 between April and June 2022. A further measure to tackle rising energy costs has been introduced in the way of a cut in VAT on electricity bills from 13.5% to 9% from 1 May 2022.

Greece:The consumers (household and non household) receive, in their electricity bills, compensation different for each month and calculated up to a certain limit of the monthly consumption. VAT and all other taxes are charged based on the reduced price (initial price minus compensation). Additionally, there is an extra financial allowance for 2022 and for the household customers only. It is paid directly to them and is not visible on their electricity bills. It is worth mentioning that not all household consumers are eligible, as certain conditions must be met. In any case, this allowance can not exceed €600 per beneficiary.

Spain: The Government of Spain has adopted measures during 2021 to cushion this increase and these measures have focused on the "taxes, fees and charges" component. Thus, the Government has reduced the charges during the first half of 2022. Specifically, it has reduced the applicable rate of VAT and the Special Electricity Tax.

France: - Individuals with regulated prices (about 2/3) have seen the evolution of prices including tax capped at 4%. This cap had consequences for customers with prices indexed to these tariffs. - The domestic tax on final electricity consumption (TICFE) has been reduced to the lowest level (€1/MWh or €0.5/MWh depending on the case) - The poorest households can benefit from an "energy check" (pre-existing but reinforced measure) - A targeted subsidy aimed at offsetting the additional costs of gas expenses for large consumer companies - The volume of electricity of nuclear origin likely to be purchased at the Arenh regulated tariff has been increased by 20TWh. This tariff makes it possible to reduce the price of electricity supply for a specific customer profile. - A targeted subsidy aimed at offsetting the additional costs of electricity expenses for large consumer companies

Croatia: The prices for households are regulated, mitigating the rise in wholesale electricity prices. A limit of the increase in fees for electricity has been adopted. The government provides social benefits for citizens at risk of energy poverty, supports for pensioners with pension below 4000 kuna, created a program of subsidies for the procurement of artificial fertilizers and subsidies to the fisheries and aquaculture sector.

Italy: The Italian Government has implemented extraordinary and temporary measures to contain the exceptional increases in energy prices with the allocation of resources from the State Budget. More precisely, the Government has adopted various measures starting from the second half of 2021, which were then continued and, in some cases, strengthened during 2022.

The measures began in 2021 with legislative decree 73/2021 and continued in the same year with legislative decree 130/2021. Further measures were then arranged for the current year, initially with the Budget Law for 2022 and then with the legislative decrees 4, 17, 21, 80, 115 and 144 of 2022.

It was therefore possible to reduce or to set to zero the price components aimed to cover the general system charges in the electricity sector (ASOS and ARIM tariffs) and in the natural gas sector (RE, GS e UG3 tariffs) for household users and non-household users until now.

Moreover, the Government temporarily reduced the VAT rate applicable to the supply of gas for civil and industrial uses to 5%, in the invoices issued for consumption of October, November and December 2021. This reduction was then further extended to cover consumption until December 2022 (see details in Table1 of the attached excel document). Under usual conditions, the VAT rate applied to gas consumption is:-10% for annual consumption up to 480 m3, and 22% over this threshold for household users;-10% for non-household users.

Finally, the Government adopted some measures which, while not having a direct impact on energy prices, help consumers to alleviate the higher cost of energy products. These measures consist in expanding the number of beneficiaries of energy bonuses and in increasing the value of these bonuses for household consumers in poor economic conditions and in granting a tax credit to non-domestic consumers for the purchase of electricity and natural gas.

Cyprus: 1.A discount of 65% was imposed on the Regulated Tariffs for the usage of Transmission and Distribution Systems for a total period of 4 months, November-December 2021 and January-February 2022-CERA Decision 294/2021.

2.According to Council of Ministers' Decision, VAT was reduced from January to August 2022-for Domestic Use Customers (tariffs 01, 02 & 56) from 19% to 9% and-for Domestic Use Special Tariff for Specific Categories of Vulnerable Customers (tariff 08 & 56) from 19% to 5%.

3.A subsidy was imposed by the Ministry of Finance on specific categories of consumers based on scaled consumption as from September 2022 to April 2023.


Latvia: For all consumers, a 100% discount on distribution tariffs was applied from January 2022 to April 2022.From November 2021, the Electricity Market Law stipulates that protected users (needy or low-income persons, families with many children or families with children with disabilities, as well as persons with group I disabilities) have the right to receive additional support for protected users for electricity payments. The support takes the form of partial compensation of the amount of the monthly electricity bill from the state budget.

Luxembourg: From 1 May to 31 December 2022, the Government has decided to bear the costs for the distribution network as well as the fixed monthly fee for residential customers.

Hungary: In Hungary, the 99.8% of household consumers is supplied by universal service providers.Since 2013, the prices of universal service is regulated thus the current trend of increase does not effect it.The A1 pricing of household consumers (most of them are in this category) is made up of a electricity price for below 1320 KWh/year consumption.Every KWh above 1320 KWh consumption is priced differently, which is 7% higher at the moment.

Malta: There are no subsidies or allowances directly to the consumer but a financial aid to Enemalta plc (electricity distributor) every month to be able to keep prices stable.

Netherlands: The government provides a refund (allowance) to all electricity consumers. It is envisaged as a tax relief primarily for low-consumption household consumers, since electricity consumption is recognised as a basic need. An extra compensation instrument that the NL government has implemented this year is a lump sum paid directly to the consumers' accounts. Households with an income up to 120% of the social minimum income are eligible for a lump sum of €1300 for this year.

In semester 2, additional measures were taken. Firstly, the VAT percentage went from 21% to 9%, only for 2022S2. So from July 1st until December 30th 2022. Secondly, for all small consumption connections (household connections) an additional allowance of €190 in November and in December (so 380 euros total) was distributed.


Austria: In the first half of 2022, the first vouchers for energy cost compensation in the amount of €150 were redeemed. This will be included in the annual electricity bill. However, the number of vouchers was still low in the first half of 2022.

Poland: For electricity from 1 January to 31 December 2022:1. Zero rate of excise duty for household customers,2. Reduction of the excise duty rate from PLN 5 per MWh to PLN 4.60 per MWh for non-domestic customers,3. Reduction the VAT rate from 23% to 5%.


Portugal:

1.Fornecimento supletivo (Regulation no. 951/2021, 2 de november de 2021)Application of supplementary supply, in the gas and electricity sectors, similarly to what happened in the previous semester, whose immediate effect is felt in reported prices as customers are now billed by the CUR (last resort seller)

2.Reduction in electricity network access tariffs for 2022: significantly alleviates impact of high wholesale price rises in end-user electricity bills (household and non-households) via considerable reductions in the network access tariffs applied to all voltage levels

3.The reduction of the VAT rate for electricity customers in BTN, with contracted power less than or equal to 3.45 kVA;

4.Application of the intermediate rate of VAT (13%) to electricity consumption (does not include fixed component, fees and taxes) of all contracts with a power not exceeding 6.9 kVA, for monthly periods of 30 days, with the following limits: does not exceed 100 KWh per 30 day period or, when purchased for consumption by large families, 150 KWh per 30 day period.

5.Iberian mechanism for limiting electricity prices, applied since 15 June 2022.The Iberian Mechanism makes it possible to set a reference price for natural gas consumed for the production of electricity, based on which a significantly lower value in the Iberian Electricity Market (MIBEL).

6.Possibility of returning to the regulated tariff in the gas Market (Since 7 September 2022).Applies to consumers in the domestic sector and small businesses with annual consumption of less than 10000m3.

Non-household and household electricity Level 2 is lower than level 1 due to the fact that prices recorded in wholesale electricity markets, during the 2nd half of 2022, present values well above the historical values and well above the values of the associated "feed-in tariff" to the PRE (Special Regime Production) mechanism, thus justifying the existence of a "benefit" for the electricity system that manifests itself through negative percentages of the component renewable taxes and capacity taxes.


Romania: The Romanian Government adopted a series of legal measures regarding the cap of electricity and natural gas retail prices, namely an electricity and natural gas consumer support scheme which has been applicable since 1 November 2021.In the case of electricity, the support scheme includes measures that apply a cap to the price component of electricity in the final bills paid by electricity consumers. The price cap is differentiated based on the type of consumer (household, non-household) and level of energy consumption. Starting with September 2022, the price cap for non-households is no longer applicable, with some exemptions. The suppliers invoice to final consumers the capped price and receive the difference between the wholesale electricity price and the retail electricity price from the state budget.The support measures affected the data collection for the first half of 2022. The Romanian Energy Regulatory Authority (ANRE) conducts a distinct and bespoke collection of data for the submission of the data according to Regulation (EU) 2016/1952 of the European Parliament and of the Council of 26 October 2016 on European statistics on natural gas and electricity prices. During data collection and verification for the first half of 2022, ANRE identified suppliers that sent data referring to the capped electricity price instead of the final non-capped electricity price, respectively not affected by support schemes.ANRE has contacted suppliers and asked them to verify and send the correct data, namely the final non-capped price applied to final consumers, not affected by support schemes. The major suppliers who ensure approximately 80% of electricity supply have corrected and resent the data and have declared that the data they resent to ANRE represents the electricity prices before applying the price cap, therefore it is not affected by support schemes. ANRE has included the corrected data sent by suppliers in the data submission according to Regulation (EU) 2016/1952.

Slovenia: In order to mitigate the consequences of rising energy prices for final consumers in Slovenia certain measures in the field of electricity and natural gas were taken and are listed below.

1. Temporarily removing or reducing certain contributionsOne of the first measures that is in place from February 2022 is the amended Regulation on determining the amount of excise duty for electricity reduced the excise duty for final consumers of electricity for 50%:- with an annual consumption of 0 to 10000 MWh from €3.05 per MWh to €1.525 per MWh,- with an annual consumption above 10000 MWh from €1.800 per MWh to €0.900 per MWh.

From September 2022 (until May 2023) the VAT on electricity and natural gas prices (including all contributions, with an exception of administrative costs for issuing the invoice) is reduced from 22% to 9.5%.

Regulation on the method of determining and calculating contributions for providing support for the production of electricity in cogeneration with high efficiency and from renewable energy sources was amended, which resulted in reduced contribution of RES+CHP for electricity consumers (by 50%) for household and small business from September 2022 onwards.

2. Specific aid to the industry and commercial sectorSmall, medium and large companies for the period from June 1 to December 31, 2022 were entitled to co-financing electricity and natural gas costs above twice the price increase by the state. For this purpose the state allocated €80million, of which some €62million were paid to companies (according to estimations from preliminary data). Beneficiaries of aid are commercial companies and cooperatives, entities from primary agriculture and fisheries activities, private associations and institutes, economic interest associations, chambers and trade unions that perform economic activity.The amount of aid depends on the changed position of the company in relation to prices in 2021 and 2022. Companies will have to submit applications until 15 November 2022 (covering the period from June to September 2022) and 28 February 2023 (covering the period from October to December 2022). The companies had the ability to apply for three types of monetary aid: Simple aid (for small and medium-sized companies, which can comprise of up to 50% of the eligible costs and total sum cannot exceed €500000), special aid (for large companies, which can comprise of up to 30% of the eligible costs and total sum cannot exceed €2million) or Aid to energy-intensive companies (if a business loss is proven, it can comprise up to 70% of the eligible costs, and also cannot exceed €2million in total aid). Also, with a government regulation, from 1 September 2022 the highest permitted tariff items of the price of electricity for small business customers with a connection power equal to or less than 43 kW, who are not household customers, excluding VAT, was set to:Higher tariff: €0.13800 per KWhLower tariff: €0.09900 per KWhUniform tariff: €0.12400EUR per KWh.Small business customers can have several measuring points. In order to be entitled to regulated prices according to the regulation, the total power of all metering points must not exceed 86 kW.

3. Specific aid to householdsWith a government regulation, from 1 September 2022 the maximum permitted tariff items for the price of electricity for household customers and for the supply of electricity in common areas of multi - apartment buildings and mixed multi-apartment-commercial buildings, without VAT, amounts to:Higher tariff (VT): €0.11800 per KWhLower tariff (NT): €0.08200 per KWhUniform tariff (ET): €0.09800 per KWh

Finland: Finland has taken several measures to help people with high electricity costs. -The reduction of VAT (electricity price only) for all electricity users from 24% down to 10% from December 2022 until April 2023-Retroactive reimbursement of the VAT-inclusive electricity price for households. The reimbursement is automatically paid to the customers by energy company if electricity contract exceeded 10 cents per kilowatt-hour or if the electricity contract was based on spot prices (so-called market price) in November and December 2022 and/or January 2023.Two other measures affect the 2023, semester 1 period-The tax credit for households for the period between January and April 2023.-Assistance with electricity cost for households. The primary method is to apply for a tax credit for electricity from the Tax Administration. Households that do not accumulate enough taxes due to low income can apply for assistance with electricity costs from Kela.

Slovakia: Maximum households prices were fixed for the whole year.

Non-households consumers are divided into vulnerable customers with regulated prices and unregulated customers with market prices. The category of vulnerable customers with a regulated price consists of entities that have a relatively low annual energy consumption and at the same time meet other conditions set by legislation.

In December 2022, economic entities could apply for a subsidy to cover additional costs due to the increase in energy prices - electricity and gas. The authorized recipient of the subsidy had to fulfil the conditions specified in the call. The months of August and September 2022 were the authorized period for which the mentioned entities could send an application.

Sweden: In Sweden, the government has decided to introduce compensation for high electricity prices for household customers. The compensation depends on the consumption of electricity by the households during December 2021 and January-March 2022 and will be distributed through reduced cost in the invoices. Hence, in the prices reporting, the compensation has been deducted from the final price with all taxes and levies included.

Iceland: Iceland is an independent producer of heat and electricity for housing. Heating is generally of geothermal origin. All electricity in the country is produced in hydro-powerplants in the country and thus does not rely on gas/nuclear/coal/fuels e.t.c. Iceland's electricity net is not connected to Europe. The associtated prices are thus not surging in Iceland as in many other countries. The government has not issued any measures to compensate prices for heating or for electricity nor is there any pressure to do so.

Norway:The government of Norway introduced a temporary support scheme from December 2021 onwards where all households receive an amount of support per KWh electricity used. This amount varies from month to month depending on the average electricity spot price. This support is paid to household consumers by lowering their electricity bill, in all months where the wholesale electricity price is above a certain threshold. This support is paid to household consumers by lowering their electricity bill. The temporary electricity support scheme for households is expected to last at least until the end of 2024.

Context

The price and reliability of energy supplies, electricity in particular, are key elements in a country's energy supply strategy. Electricity prices are of particular importance for international competitiveness, as electricity usually represents a significant proportion of total energy costs for industrial and service-providing businesses. Contrary to the price of fossil fuels, which are usually traded on global markets with relatively uniform prices, electricity prices vary widely among EU Member States. The price of primary fuels and, more recently, the cost of carbon dioxide (CO2) emission certificates influence, to some degree, the price of electricity.

Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, Energy Emergency - preparing, purchasing and protecting the EU together, COM2022(553) final, coordinates solidarity efforts, secures the energy supply, stabilises price levels and support households and companies facing high energy prices.

Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, REPowerEU: Joint European Action for more affordable, secure and sustainable energy, COM2022(108) final, Commission to propose measures to coordinate solidarity efforts, secure the energy supply, stabilise price levels and support households and companies facing high energy prices.

In 2019, the European Commission presented the Clean energy for all Europeans package. The Commission completed a comprehensive update of its energy policy framework to facilitate the transition away from fossil fuels towards cleaner energy and to deliver on the EU's Paris Agreement commitments for reducing greenhouse gas emissions.

The Fit for 55 legislative proposals cover a wide range of policy areas including climate, energy, transport and taxation, setting out the ways in which the Commission will reach its updated 2030 target in real terms.

Regulation (EU) No 2016/1952 tackles data weaknesses led to the recommendation to improve the detail, transparency and consistency of energy price data collection. An energy prices and costs report would be prepared every 2 years. The European Commission thus published such a report also in 2016 and 2018.

The seventh report on energy prices and costs, as part of the [1] was published on 18 October 2022. The 2022 report is the third report since the adoption of the European Green Deal and the first after the adoption of the REPowerEU plan. It highlights the challenges that the energy sector has faced in the past 12 months and the progress made in addressing both shorter-term issues and Europe's long-term climate goals. In particular, the report takes stock of the EU's energy policy response to the current energy crisis, exacerbated by Russia's war in Ukraine.

Increased transparency for gas and electricity prices should help promote fair competition, by encouraging consumers to choose between different energy sources (oil, coal, natural gas and renewable energy sources) and different suppliers. Energy price transparency is more effective when publishing and broadcasting as widely as possible prices and pricing systems.

Electricity price statistics (2024)

FAQs

How much has the price of electricity increased in the US? ›

In nominal terms, the average monthly electricity bill for residential customers in the United States increased 13% from 2021 to 2022, rising from $121 a month to $137 a month.

What is the average cost per kWh in the US? ›

As of February 2023, the average residential electricity rate in the U.S. is about 23 cents per kilowatt-hour (kWh). Importantly, electricity rates can vary widely based on where you live.

Why are NH electric rates so high? ›

The short answer–High demand, low supply, and reliance on an unstable energy market. Like any other supply and demand market, the price of electricity per kWh (kilowatt hour) ebbs and flows.

Who has the highest electricity prices? ›

The top five countries with the most expensive energy, based on the cost per kilowatt, are:
  • Solomon Islands.
  • Vanuatu.
  • Benin.
  • Denmark.
  • Germany.
Apr 18, 2023

Will electricity prices go down in 2023 in us? ›

Electricity price forecast 2023. By applying established seasonal patterns and average growth rates, we can expect the national average electricity price to peak at 17.2 cents per kWh in August 2023 and fall as low as 16.8 cents per kWh in November.

Why are US electricity prices so high? ›

First, tighter supplies of liquified natural gas, which fuels more than one-third of Americans' electricity, have raised costs for consumers.

Who has the highest kWh price in USA? ›

Hawaii has the highest average electricity rate of 42.26 cents per kilowatt-hour.

What uses the most electricity in a home? ›

Which home appliances use the most electricity?
  1. Heating and cooling: 45-50% The largest electricity consumer in the average household is your heating and cooling appliance. ...
  2. Water heater: 12% ...
  3. Lighting: 9-12% ...
  4. Refrigerator: 8% ...
  5. Washer and dryer: 5% ...
  6. Electric oven: 3% ...
  7. Dishwasher: 2% ...
  8. TV and cable box: 2%
Dec 20, 2022

Why are Texas electric rates so high? ›

Higher natural gas prices are a main reason for higher electric bills, and Texas is more dependent on the fuel. Natural gas provided 44% of the state's power last year compared with 37% nationally, Thompson said, and higher fuel prices can be passed along more quickly in Texas' deregulated market.

Will NH electric rates go down in 2023? ›

— Just as Eversource promised earlier this spring, its energy supply rates will be lower for the latter half of 2023. Eversource announced Wednesday it has submitted a rate of 13.82 cents per kilowatt per hour (kWh) to the state's Public Utilities Regulatory Authority (PURA).

What will NH electric rates be in 2023? ›

Effective with bills rendered on or after February 1, 2023, the Co-op Power rate will decrease from 16.98 cents per kWh to 13.78 cents per kWh.

Why are electric bills doubling in NH? ›

The price hikes are being driven by projected high costs of natural gas. In a Monday filing with the Public Utilities Commission, Liberty Utilities proposed increasing the per kilowatt hour price of electricity from 11.11 cents, the rate in effect from February to July of this year, to 22.23 cents starting in July.

How much is electricity in Russia? ›

Russia fuel prices, electricity prices, natural gas prices
Electricity prices per kWhDateUSD
Households01.12.20220.055
Business01.12.20220.082

How much does electricity cost in China? ›

China, December 2022: The price of electricity is 0.077 U.S. Dollar per kWh for households and 0.089 U.S. Dollar for businesses which includes all components of the electricity bill such as the cost of power, distribution and taxes.

Who is cheapest electricity supplier? ›

Electric Ireland named cheapest electricity provider

Electric Ireland had the cheapest standard electricity tariffs available at €2,023 per year. SSE Airtricity had the cheapest standard gas plans available at €1,838 for existing customers.

Who has the highest electricity price in USA? ›

U.S. residential retail price of electricity 2022, by state

Hawaii is the U.S. state with the highest household electricity price. In September 2022, the average retail price of electricity for Hawaiian residences amounted to roughly 45 U.S. cents per kilowatt-hour.

Will electricity go up in USA? ›

As we head into summer, energy prices are expected to continue to rise -- albeit more modestly than they have in recent years. According to the Bureau of Labor Statistics' latest Consumer Price Index, the cost of residential electricity jumped 14.3% between 2021 and 2022.

Is US energy consumption increasing? ›

Our projections of residential consumption of purchased electricity increase between about 14% and 22% from 2022 to 2050 across all cases, reaching between 5.9 quads and 6.3 quads.

What is the average cost of electricity in the US quizlet? ›

Commercially available household photovoltaic systems cost approximately $20,000. The average cost of electricity in the United States is approximately $0.09 per kilowatt hour.

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