Electricity prices for households in the EU will be stable in 2024
In the second semester of 2024, the average electricity prices for EU homes remained practically stable, with a slight decrease to € 28.72 per 100 kWh from € 28.89 of the first semester of 2024. These price levels remain well above the levels prior to the energy crisis of 2022.
In 2024, the proportion of taxes in electricity invoices increased slightly, from 24.3 % to 25.1 % in the second semester, due to small tax increases. Although the general costs of energy and supply in the EU decreased by 2024 compared to 2023, network costs increased in 18 EU countries, which resulted in a general increase in network costs in the EU of 8.9 % compared to the previous year.
This information comes from data on electricity prices recently published by Eurostat.
strong variations in electricity prices for households in the EU
Considerable variations were observed among the EU countries. Germany registered the highest electricity prices, with € 39.43 per 100 kWh, followed by Denmark (€ 37.63) and Ireland (€ 36.99). On the other hand, the lowest prices were observed in Hungary (€ 10.32), Bulgaria (€ 12.17) and Malta (€ 13.01).
-Despite the stability of EU’s averages, comparisons between national currencies indicate significant price fluctuations in some countries. Domestic electricity prices increased in Portugal (+14.2 %compared to the second semester of 2023), Finland (+13.6 %) and France (+12.9 %). Meanwhile, countries such as Latvia (-17.8 %), Netherlands (-14.3 %) and Belgium (-12.3 %) experienced substantial price reductions.
Expressed in purchasing power standard (EPA), electricity prices were the highest for households in Czechia (41.00), Cyprus (35.70) and Germany (35,23). The lowest prices, according to the EPA, were observed in Malta (14,33), Luxembourg (15,39) and Hungary (15,45).
Non -domestic electricity prices: more sales than increases
In the second semester of 2024, the prices of non -domestic electricity in the EU remained stable in general, with more countries that experienced declines than increases. On average, prices without VAT remained relatively stable at € 18.99 per KWh, showing a slight increase compared to € 18.67 of the first half of the year. This stability marks a pause in the downward trend observed during the last year and a half, indicating that prices have stabilized in the second semester of 2024. Meanwhile, the proportion of non -recoverable taxes and encumbrances was slightly lower, standing at 15.9 %, compared to 16.6 % of the first semester of 2024.
In 19 EU countries, non-domestic electricity prices fell, while 6 countries experienced increases compared to the second semester of 2023. Notable decreases in Austria (-18.8%), France (-16.3%) and Belgium (-16.1%) were observed, mainly due to the reduction of energy costs and supply costs and increases in Portugal (+ 14.7%), Czech (+ 11.8%) and Denmark (+ 9.8%), largely attributed to the increase in network costs and gradual elimination of tax reductions and subsidies.
