Latvia saw some of Europe's biggest electricity price hikes this year

Take note – story published 1 year and 7 months ago

In the first half of 2022, average household electricity prices in the EU increased sharply compared with the same period in 2021, from €22.0 per 100 kWh to reach €25.3 per 100 kWh – and Latvia saw some of the biggest increases.

Household electricity prices rose in 22 EU Member States in the first half of 2022, compared with the first half of 2021. The largest increase (expressed in national currencies) was registered in Czechia (+62%), ahead of Latvia (+59%) and Denmark (+57%). 

Data indicates five decreases in household electricity prices among Member States: the Netherlands (-54%), Slovenia (-16%), Poland (-3%), Portugal and Hungary (both -1%). The drops in the Netherlands, Slovenia and Poland were connected to government subsidies and allowances, while in Hungary, prices are regulated.

Expressed in euro, average household electricity prices in the first half of 2022 were lowest in the Netherlands (€5.9 per 100 kWh), Hungary (€9.5) and Bulgaria (€10.9) and highest in Denmark (€45.6), Belgium (€33.8), Germany (€32.8) and Italy (€31.2). 

Electricity price changes, 2021-2022
Electricity price changes, 2021-2022

Average gas prices also increased, though by not quite as much (55%). Between the first half of 2021 and the first half of 2022, gas prices increased in 23 of the 24 EU Member States for which data are available. Gas prices surged the most in Estonia (+154%), Lithuania (+110%) and Bulgaria (+108%), mainly driven by the cost of energy.

Expressed in euro, average household gas prices in the first half of 2022 were lowest in Hungary (€2.9 per 100 kWh), Croatia (€4.1) and Latvia (€4.6) and highest in Sweden (€22.2), Denmark (€16.0) and the Netherlands (€12.9). 

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