Electricity bills third-biggest increase in EU

1297 views
2 mins read

Annual household electricity bills shot up by 36% in Cyprus in the second half of 2021, the third-biggest increase in the EU27.

According to Eurostat, in the second half of 2021, average household electricity prices in the European Union increased sharply compared with the same period of 2020 (€21.3 per 100 kWh), standing at €23.7 per 100 kWh.

The third biggest increase in household electricity bills was recorded in Cyprus, with prices increasing 36%.

Average gas prices in the EU also increased compared with the same period of 2020 (€7.0 per 100 kWh) to €7.8 per 100 kWh in the second half of 2021.

More recently, wholesale prices for electricity and gas have increased substantially across the EU.

Energy and supply costs, caused by several economic factors, mainly drove the increase.

Taxes and levies accounted for 36% of the electricity bills charged to households in the EU.

For gas bills, the corresponding share was 30%. There were no significant changes in this price component compared with a year ago.

The largest increase in household electricity prices in the EU was registered in Estonia (50%), ahead of Sweden (49%) and Cyprus (36%).

The only decreases were observed in Slovakia (6%) and Hungary (0.1%).

Average household electricity prices in the second half of 2021 were lowest in Hungary (€10.0 per 100 kWh), Bulgaria (€10.9) and Croatia (€13.1) and highest in Denmark (€34.5), Germany (€32.3), Belgium (€29.9) and Ireland (€29.7).

Gas prices also increased between the second half of 2020 and 2021 in 20 of the 24 EU Member States. (Cyprus is not included in the data as there is no natural gas provision for households).

The largest increases in household gas prices were observed in Bulgaria (103%), followed by Greece (96%) and Estonia (83%).

The only decreases in price were recorded in Slovakia (12%), Czechia (5%) and Portugal (1%).

Average household gas prices in the second half of 2021 were lowest in Hungary (€3.1 per 100 kWh), Croatia (€4.0) and Lithuania (€4.1) and highest in Sweden (€18.6), Denmark (€12.5), the Netherlands (€11.0) and Spain (€10.8).