The average price of electricity for households in the EU fell in the second half of 2023 by 3.7 percent compared to the first six months, falling to 28.3 euros per 100 kilowatt hours, Eurostat has calculated. Compared to the second half of 2022, it remained almost unchanged. In the eurozone, households paid an average of 30 euros for 100 kilowatt hours of electricity in the second half of last year, 3.8 percent less than in the first six months. Compared to the same period in 2022, its price was 3.1 percent higher. "Energy, supply and network costs stabilized in the first half of the year and show a decline in the second half compared to the 2022 peak, but are still at high levels," according to Eurostat.

Removal of assistance mechanisms

The average price of gas for households in the EU was five percent lower in the July-December period than in the first half of the year, falling to 11.3 euros per 100 kilowatt hours. Compared to the second half of 2022, it remained almost unchanged. In the eurozone, gas for households became cheaper by 7.6 percent in the second half of last year, to 12.2 euros per 100 kilowatt hours. Compared to the second half of 2022, it was seven percent more expensive. The lower gas and electricity bills for households than in the first half of the year reflect the fall in prices in the markets, which was partially amortized by the removal of state aid mechanisms, Eurostat explains. The lowest gas price, expressed in euros, was paid by households in Hungary in the second half of last year, with 3.3 euros per 100 kilowatt hours. Croatia follows with the gas price for households in the second half of 2023 at 4.6 euros per 100 kilowatt hours, when all taxes are included, 4.4 percent higher than in the first half of the year. Comparison with the same period in 2022 shows a semi-softer price increase. The group of countries with the lowest gas price for families in the second half of 2023 also includes Romania, where it was 5.6 euros. The highest gas price, expressed in euros, was paid by families in the Netherlands and Sweden, respectively 24.8 euros and 20.7 euros per 100 kilowatt hours. Cyprus and Malta do not publish gas price data and Finland does not publish household gas prices.

Favorable Hungary

Households in Hungary paid the lowest price for electricity in the second half of last year, at just 11.3 euros per 100 kilowatt hours. Followed by Bulgaria and Malta, where it stayed with 11.9 and 12.8 euros, respectively.

In the second half of last year, households in Croatia paid 14.8 euros for 100 kilowatt hours of electricity, including all tariffs. This means that the price has not changed significantly since the second half of 2022, when it was 9.3 percent more expensive compared to the previous six months.

In the second half of 2023, households in Germany spent the most on electricity, where 100 kilowatt hours cost 40.2 euros. Ireland and Belgium continue with the price of electricity for households of almost 38 euros per 100 kilowatt hours.