The FINANCIAL — In the European Union (EU), household electricity prices1 rose by 2.9% on average between the second half of 2013 and the second half of 2014 to reach €20.8 per 100 kWh. Since 2008, electricity prices in the EU have increased by more than 30%. Across the EU Member States, household electricity prices in the second half of 2014 ranged from €9 per 100 kWh in Bulgaria to more than €30 per 100 kWh in Denmark.
Household gas prices increased by 2.0% on average in the EU between the second halves of 2013 and 2014 to hit €7.2 per 100 kWh. Since 2008, gas prices in the EU have risen by 35%. Among Member States, household gas prices in the second half of 2014 ranged from just over €3 per 100 kWh in Romania to above €11 per 100 kWh in Sweden, according to EU.
Taxes and levies made up on average in the EU 32% of the electricity price charged to households in the second half of 2014, and 23% of the gas price.
Lowest electricity prices in euro in Bulgaria and Hungary, highest in Denmark and Germany
Across the EU Member States, the highest increase in household electricity prices in national currency between the second half of 2013 and the second half of 2014 was registered by far in France (+10.2%), followed by Luxembourg (+5.6%), Ireland (+5.4%), Greece (+5.2%), Portugal (+4.7%), the United Kingdom (+4.6%) and Spain (+4.1%). In contrast, the most noticeable decrease was observed in Malta (-26.2%), well ahead of the
Czech Republic (-10.2%), Hungary (-9.9%), the Netherlands (-9.6%), Slovakia (-9.2%) and Belgium (-7.8%).
Expressed in euro, average household electricity prices in the second half of 2014 were lowest in Bulgaria (€9.0 per 100 kWh) and Hungary (€11.5) and highest in Denmark (€30.4) and Germany (€29.7). The average electricity price in the EU was €20.8 per 100 kWh.
When expressed in purchasing power standards (PPS), an artificial common reference currency that eliminates general price level differences between countries, it can be seen that, relative to the cost of other goods and services, the lowest household electricity prices were found in Finland (12.4 PPS per 100 kWh), Latvia (13.7) and Luxembourg (14.2), and the highest in Germany (28.2), Cyprus and Portugal (both 27.4) and Spain (26.0).
More than half of the price of electricity is made up of taxes and levies in Denmark and Germany
The share of taxes and levies in total household electricity prices varied significantly between Member States, ranging from more than 50% in Denmark (57% of household electricity price is made up of taxes and levies) and Germany (52%) to 5% in both Malta and the United Kingdom in the second half of 2014. On average in the EU, taxes and levies accounted for almost a third (32%) of household electricity prices.
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