The largest decrease among European countries was recorded by natural gas prices in Greece in the second half of 2023, which fell by 42% on an annual basis
According to data published today by Eurostat, oGas prices for residential consumers decreased in the second half of 2023, mainly as a result of lower energy costs and to a lesser extent from taxes, which gradually return to pre-crisis levels after reductions in 2022. For non-residential consumers, the reductions in natural gas prices were more evident in the second half of 2023.
Between the second half of 2022 and the second half of 2023, natural gas prices (in national currencies) increased the most in Lithuania (+68%) and decreased the most in Denmark (-39%). For residential consumers, overall, 12 countries reported increases, while the other 12 that use natural gas reported price decreases. In the industry sector, all but three countries reported decreases, indicating a clear downward trend in gas price levels.
Poland (+32%), Slovakia and Germany (both +22%) followed with the highest price increases, while Greece (-42%), Denmark (-41%) and Bulgaria (-40 %) had the highest decreases.
Regarding households, average gas prices in the first half of 2023 were lowest in Hungary (€3.3 per 100 kWh), Croatia (€4.6) and Romania (€5.6) and the highest in Sweden (20.7 euros), Ireland (16.4 euros). ) and the Netherlands (€24.8).
A drop in electricity prices as well
At the same time, in the second half of 2023, average household electricity prices in the EU decreased (€28.5 per 100 kWh) compared to the first half (€29.4 per 100 kWh) and slightly increased compared to the second half of 2022 (€28.4 per 100 kWh). Energy, supply and network costs, which stabilized in the first half of 2023, show a decrease in the second, still remaining at high levels, compared to costs before the price peak in 2022.
The data also show that household electricity prices fell in 13 EU countries and rose in the rest in the second half of 2023 compared to the second half of 2022.
For non-household consumers, prices in the second half of 2023 fell in 17 countries, resulting in a -4.6% decrease in the EU. Price declines resulted from market dynamics, but were partially offset by reduction or abolition of consumer relief measures at national level.
(photo: freepik.com)
