Electricity and gas prices across Europe: How does your country compare?
Energy prices in the EU, which surged following Russia's invasion of Ukraine in early 2022, stabilised after a year. Throughout 2024, the annual inflation rate for energy prices was slightly negative in most months.
Energy bills play a crucial role in household budgets, with electricity, gas, and other fuels accounting for 5.5% of total household spending in the EU in 2023. This is especially significant for low-income households, as they have to allocate a larger share of their budget to energy costs.
Energy prices vary significantly across Europe, but which countries have the most expensive and cheapest electricity and gas prices?
A wide differential
The Household Energy Price Index (HEPI), compiled by Energie-Control Austria, MEKH and VaasaETT, provides the most up-to-date data on residential electricity and gas prices across capital cities in 33 European countries.
As of 3 January 2025, residential end-user electricity prices varied widely across Europe, ranging from 9.1 c€/kWh in Budapest to 40.4 c€/kWh in Berlin, while the EU average stood at 25.5 c€/kWh.
In addition to Berlin, the most expensive cities for household electricity were Brussels (38.5 c€/kWh), Copenhagen (37.5 c€/kWh), London (36.8 c€/kWh), and Bern (36.4 c€/kWh).
Budapest, which had the lowest electricity price, was followed by Kyiv (9.8 c€/kWh), Belgrade (10.5 c€/kWh), and Podgorica (11.1 c€/kWh).
Electricity prices in the capitals of Central and Eastern European countries tended to be lower than the EU average. The only exception was Prague (35.3 c€/kWh), which was the only capital in the region where prices exceeded the EU average.
Electricity prices exceeded the EU average in all capital cities of Europe's five largest economies.
Why do electricity prices differ so much?
Experts attribute the differences in nominal residential electricity prices to various market-specific factors. "The different energy mix in generation (dependency on natural gas, RES, etc.), supplier procurement and pricing strategies, cross-subsidisation, the tariff mix and the support measures that are still effective in some markets, have an impact on the formation of the prices", explained Rafaila Grigoriou, HEPI project manager & head of VaasaETT's Greek office, and Iliana Papamarkou, denior data analyst at VaasaETT.
For example, they added that Berlin topped the list largely due to the significant cost of network charges and taxes. If only the energy component were considered, Germany would rank 10th among the 33 analysed markets, lower than Italy, Great Britain, and the Netherlands.
Electricity prices in purchasing power standards
When adjusted for purchasing power standards (PPS), electricity price rankings shift significantly, as PPS provides a fairer comparison. As an artificial currency unit, it eliminates general price level differences.
When expressed in PPS, electricity prices varied from 10.6 in Oslo to 43.9 in Prague, showing the significant shifts in rankings compared to nominal prices. "Czechia is a characteristic example of how market ranking changes when expressing prices in PPS", Grigoriou and Papamarkou of VaasaETT told. Prague ranks 7th in nominal electricity prices but takes the top spot in PPS.
The most dramatic ranking changes include:
Bern: Dropped from 5th in EUR to 23rd in PPS
Luxembourg City: Dropped from 12th in EUR to 24th in PPS
Copenhagen: Dropped from 3rd in EUR to 15th in PPS
Warsaw: Moved up from 18th in EUR to 6th in PPS
Vilnius: Moved up from 16th in EUR to 7th in PPS
These changes suggest that, while Eastern European capitals often have lower nominal electricity prices, lower purchasing power makes electricity a greater financial burden for households. Conversely, Western and Northern European cities may appear expensive in nominal terms but become relatively more affordable when adjusted for PPS.
Stockholm is a major outlier in gas prices
Across the EU, residential end-user gas prices ranged from 2.5 c€/kWh in Budapest to 33.3 c€/kWh in Stockholm—over 13 times higher than in Budapest.
"This can be explained by the nature of the Swedish gas market; the small size of only 77,000 household gas customers in the whole of Sweden of which 50,000 in the isolated gas network in Stockholm", Rafaila Grigoriou and Iliana Papamarkou told.
Amsterdam (18.3 c€/kWh), Bern (17.4 c€/kWh) and Rome (15 c€/kWh) followed the Swedish capital.
London had the lowest rate among the top five economies at 8.8 c€/kWh.
Grigoriou and Papamarkou attributed the gas price disparities to several factors, including "different procurement and pricing strategies, the storage levels, temperature and weather conditions, the interconnection with other markets, cross-subsidisation and the tariff mix".
Gas prices in PPS varied from 3.8 c€/kWh in Budapest to 28.3 c€/kWh in Stockholm. Notable ranking shifts include
Bern: Dropped from 3rd in EUR to16th in PPS
Luxembourg City: Dropped from 10th in EUR to 21st in PPS
Copenhagen: Dropped from 3rd in EUR to 15th in PPS
Dublin: Moved up from 8th in EUR to 18th in PPS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
France 24
an hour ago
- France 24
Italy forges on with world's largest suspension bridge
The 13.5-billion-euro ($15.3-billion) project would carry trains and six lanes of traffic, allowing cars to cross the Strait of Messina in 15 minutes. Giorgia Meloni's hard-right government hopes to boost the economy of the impoverished region, although critics say there are better ways to do this -- and many believe that after decades of false starts, the bridge will never actually happen. The choppy waters between the eastern tip of Sicily and the western edge of the region of Calabria are legendary as the place where monsters Scylla and Charybdis terrified sailors in Homer's epic poem "The Odyssey". These days the challenges are more prosaic, from winds of more than 100 kilometres an hour (62 mph) to the real risk of earthquakes in a region that lies across two tectonic plates. The government says the bridge will be at the cutting edge of engineering, with the section suspended between its two pillars stretching 3.3 kilometres, the longest in the world. But critics point to a long history of public works announced, financed and never completed in Italy, whether due to corruption or political instability, resulting in enormous losses for taxpayers. "The public does not trust this political class and these projects that become endless construction sites," said Luigi Storniolo, a member of protest group No Ponte (No Bridge). Infrastructure Minister and Deputy Prime Minister Matteo Salvini, one of the main champions of the project, insists it will be a game-changer for the local economy. "The bridge will be a catalyst for development," he said on a recent visit to Reggio di Calabria, the city where the bridge will begin. 'A senseless project' The government hopes to boost trade in Sicily, which currently suffers from an "insularity cost" of around 6.5 billion euros a year, according to regional authorities. Meloni's ministers are expected to give their final approval to the project -- which Rome will fund -- later this month, and Salvini insists construction will begin this summer. But work had already been announced for the summer of 2024, before being postponed -- a common theme in the history of the bridge, the idea of which dates back to the unification of Italy at the end of the 19th century. The first law for the project was passed in 1971. Since then, successive governments have either revived it or cancelled it. In 2012, the idea appeared to be definitely abandoned amid the eurozone debt crisis, only for Meloni's government, which took office in 2022, to return to it once again. Salvini has repeatedly stated that the bridge would create 120,000 jobs in Calabria and Sicily, which have the fourth and the 13th highest unemployment rates respectively in the EU for young people under 29. However, the left-wing CGIL trade union estimates around 2,300 workers a year will be hired during the project, and critics say the jobs created will be offset by long-term losses from the closure of ferries. Mafia risk The project has sparked local protests, with critics warning of the impact on a protected marine zone and an important bird migratory route. Storniolo told AFP it was a "senseless project" which used up valuable funds when "our regions already suffer from many problems... healthcare, schools, and infrastructure." The Italian Court of Auditors has also criticised the extent of the debt-laden Italian state's investment in this one project in its assessment of the 2024 budget. "They want to make an entire territory believe that its only hope is this bridge -- but then the bridge never arrives," protester Storniolo added. There is also the question of mafia infiltration. The attorney general of Messina recently warned of the risk that organised crime would benefit from the project, noting that "the power of the mafia is hidden... behind public contracts". The government has proposed placing companies relating to the project under control of an anti-mafia structure reporting to the interior ministry. But Italian President Sergio Mattarella blocked this, saying it should only be used for one-off events such as earthquakes or the Olympics. Salvini argued that the bridge can help tackle the mafia, saying: "You do not fight the mafia... with conferences and protests, but by creating jobs and giving hope to young people."
Fashion Network
5 hours ago
- Fashion Network
French Senate approves ‘anti-fast-fashion' bill chiefly targeting Shein, Temu
Louwagie said that the government will notify the European Commission of this bill even before the end of the joint parliamentary committee work that will start soon, and that the government will also work on the decrees regulating the bill's application, and notably define the thresholds that will formally identify an operator as 'ultra-express' or 'ultra-fast-fashion'. Before the vote, the representatives of the various Senate groups spoke to explain their positions on the vote. An opportunity to underline for some the positive amendments made to the bill, and its weaknesses for others. Many senators welcomed the removal of a provision of the 2022 anti-waste law on unsold goods, which allowed ultra-fast-fashion operators to benefit from tax allowances when donating unsold goods to charitable associations. The re-introduction of a blanket ban on advertising for ultra-express fashion operators was also appreciated. 'This law does not prohibit, it protects by defining what is abnormal. It protects our environment and that of our children. It protects the economy and our textile industry. We can be happy we are giving ourselves the means to achieve our goals,' said Nicole Bonnefoy, representing the Socialist, Ecologist and Republican group, adding that 'we welcome the re-introduction of article three, which will form a negotiation basis for requesting an amendment to the European e-commerce directive, so that these restrictive measures can be made to apply to companies based for example in Ireland.' Although the amendments have been approved by the groups, several points still prompted strong reservations. The introduction of the term 'ultra-express fashion' has led to much teeth-gnashing among environmental associations and sustainable fashion brands, which believe that the aim of fencing in all types of fast-fashion practices is no longer being pursued. Jacques Fernique of Ecologist group Solidarité et territoires insisted on this aspect, emphasising that the various laws will not enter into force for many months yet, since they have to be examined again by the European Commission and the joint parliamentary committee, something which won't happen before the autumn. 'Today's vote is a relatively positive step. Shein, Temu and Amazon are pushing to the extreme a business model that destroys local jobs and our city centres' appeal. But both ultra-express fast fashion and fast fashion adopt the same approach, selling transient, low-cost disposable products. This bill is targeting the ultra-fast fashion explosion, but we can't see why the penalties shouldn't potentially apply to everyone.' Fernique is campaigning for provisions that would 'push back against the kind of disposable fashion sold by foreign platforms but also by French and European companies. It's sustainable fashion that we ought to promote, regardless of the nationality of who sells it.' An issue which the majority of senators did not endorse. 'This bill has set a course. It doesn't pretend to solve everything, but it intends to draw boundaries,' said Valente Le Hir, who is affiliated with the Republican group and is the bill's rapporteur in the Senate. She has advocated for the middle ground in various issues, asserting that the Senate wants to draw up a 'stronger bill, not a travesty of it. We have said it's time to limit the excesses of express fashion without penalising those who are working towards greater sustainability in the industry. [The bill] has distinguished, within a poorly understood sector, what constitutes planned overconsumption and what constitutes sustainable innovation. We've clarified the target. We've drawn a clear line between what we want to regulate, ultra-express fast fashion as embodied by platforms like Shein and Temu, and what we want to preserve, in other words affordable, locally rooted fashion that generates jobs in France, that anchors our communities, creates connections and boosts local industry.' After the government will have sent the text over to the European Commission, the latter will have three to four months to comment. And while French MPs and senators will be working within the joint parliamentary committee, the Commission's analysis and observations will play a key role in the bill's final wording and provisions. In the meantime, the lobbying efforts that have been ongoing for months are set to continue.
France 24
6 hours ago
- France 24
Clothes at what cost? French fast fashion bill puts onus on Chinese brands
France's senate passed a bill to curb advertising and tax pollution on fast fashion, with lawmakers even talking up the distinction of ultra fast fashion - garments made in a hurry - more and more using polyester and other polluting plastics, shipped at warp speed by plane and which fall apart after only a few washes. Has the bill been partially stripped bare though? The new version seems to include a carve-out for European giants that peddle cheap clothes with the focus mostly now on China. In fact, Europeans like the Trump administration are working to close the tax loophole on the kind of small parcels that go out by the millions from small garment factories in China. And while the likes of Shein and Temu enroll big names to lobby, including a former European Commissioner and a former interior minister of Emmanuel Macron, we asked who's winning the hearts and minds of consumers in this battle over an industry that represents up to ten percent of humanity's carbon footprint.
