Electricity and gas prices in the EU fell last year after the explosion in 2022. Romania among the countries with the lowest gas and highest electricity prices

Electricity and gas bills fell in the second half of 2023 after rising before Russia’s war against Ukraine and soaring through 2022, Eurostat data show. Romania is among the countries with the lowest average gas prices for households in the first half of 2023, along with Hungary and Croatia. On the other hand, we had high electricity prices last year.

In the second half of 2023, average electricity prices for household consumers in the EU decreased (€28.5/100 kWh) compared to the first half (€29.4/100 kWh) and increased slightly compared to second half of 2022 (28.4 EUR/100 kWh). The cost of energy, supply and network, which stabilized in the first half of 2023, shows a decrease in the second, but remains at high levels compared to the cost before the price peak in 2022.

The average price of natural gas for households in the second half of 2023 decreased (€11.3 per 100 kWh) compared to the first half of 2023 (€11.9 per 100 kWh) and the second half of 2022 (11, 4 EUR per 100 kWh). The decline in energy, supply and network costs, already started in the first half of 2023, continued its downward course. For non-household consumers, this decline is more pronounced, which shows better conditions for the industry.

The price of electricity fell in 13 EU countries in the second half of 2023

The data also shows that electricity prices for household consumers fell in 13 EU countries and increased in the rest of the countries in the second half of 2023 compared to the second half of 2022. For non-household consumers, prices in the second half of 2023, they decreased in 17 countries, resulting in a -4.6% decrease in the EU. The price declines resulted from market dynamics, but were partially offset by the reduction or elimination of consumption reduction measures at the national level.

In national currency, the largest increase (+86%) was reported in the Netherlands. Large increases in national currency were also recorded in the Czech Republic (+83%), Poland (+35%) and Germany (+20%).

Important decreases in the national currency were recorded in Denmark (-39%), Spain (-30%) and Sweden (-20%).

Romania is among the countries with the highest electricity prices:

Expressed in euros, the average electricity prices for household consumers in the second half of 2023 were the lowest in Hungary (11.3 euros for 100 kWh), Bulgaria (11.9 euros) and Malta (12.8 euros ) and the highest in Germany (40.2 euros), Ireland (37.9 euros) and Belgium (37.8 euros).

Gas price: Lithuania, the biggest increase, Greece, the biggest decrease

Gas prices for household consumers fell in the second half of 2023, mainly as a result of lower energy costs and, to a lesser extent, taxes, which gradually return to pre-crisis levels after the cuts in 2022. For non-household consumers, gas price reductions were more evident in the second half of 2023.

Between the second half of 2022 and the second half of 2023, gas prices (in national currency) increased the most in Lithuania (+68%) and decreased the most in Denmark (-39%). For household consumers, a total of 12 countries reported increases, while the remaining 12 gas users reported price decreases. In the industrial sector, all but three countries reported decreases, indicating a clear downward trend in gas price levels.

Poland (+32%), Slovakia and Germany (both +22%) saw the biggest price increases, while Greece (-42%), Denmark (-41%) and Bulgaria (-40%) the biggest drops.

Expressed in euros, the average gas prices for households in the first half of 2023 were the lowest in Hungary (3.3 euros per 100 kWh), Croatia (4.6 euros) and Romania (5.6 euros) and the higher in Sweden (20.7 euros), Ireland (16.4 euros) and the Netherlands (24.8 euros).