Household electricity prices in the EU stable in 2024

In the second half of 2024, average electricity prices for households in the EU remained largely stable, with a slight decrease to €28.72 per 100 kWh from €28.89 in the first half of 2024. These price levels remain well above levels from before the 2022 energy crisis. 

In 2024, the share of taxes in electricity bills rose slightly from 24.3% to 25.1% in the second semester due to minor tax increases. Although overall EU energy and supply costs declined in 2024 compared with 2023, network costs increased in 18 EU countries, resulting in an overall rise in EU network costs by 8.9% from the previous year.

Source dataset: nrg_pc_204

This information comes from data on electricity prices published recently by Eurostat. The article presents a handful of findings from the more detailed Statistics Explained articles on electricity prices.

Sharp variations across the EU in household electricity prices

Considerable variations were observed among EU countries. Germany reported the highest electricity prices at €39.43 per 100 kWh, followed by Denmark (€37.63) and Ireland (€36.99). In contrast, the lowest prices were observed in Hungary (€10.32), Bulgaria (€12.17) and Malta (€13.01).

Despite stable EU averages, national currency comparisons indicate significant price movements in some countries. Household electricity prices surged in Portugal (+14.2% compared with the second semester of 2023), Finland (+13.6%), and France (+12.9%). Meanwhile, countries like Latvia (-17.8%), the Netherlands (-14.3%), and Belgium (-12.3%) experienced substantial price reductions.

Source dataset: nrg_pc_204

Expressed in purchasing power standard (PPS), electricity prices were the highest for households in Czechia (41.00), Cyprus (35.70) and Germany (35.23). The lowest prices based on PPS were observed in Malta (14.33), Luxembourg (15.39) and Hungary (15.45).

Non-household electricity prices: more reductions than increases

In the second half of 2024, non-household electricity prices in the EU remained stable overall, with more countries experiencing price decreases than increases. On average, prices excluding VAT remained relatively stable at €18.99 per kWh, showing a marginal increase from €18.67 in the first half of the year. This stability marks a pause in the declining trend observed over the past 1.5 year, indicating that prices have levelled out in the second half of 2024. Meanwhile, the share of non-recoverable taxes and levies was slightly lower at 15.9%, down from 16.6% in the first half of 2024.

In 19 EU countries, non-household electricity prices dropped, while 6 countries saw increases compared to the second half of 2023. Notable decreases were seen in Austria (-18.8%), France (-16.3%), and Belgium (-16.1%), mainly on account of reduced energy and supply costs and increases in Portugal (+14.7%), Czechia (+11.8%), and Denmark (+9.8%), largely attributed to rising network costs and the phase-out of tax reductions and subsidies.