FFE Magazine

How much is your electricity Worth?

by FFE EU News Staff


Since 2010, gas and electricity prices in Europe have risen due to higher demand and rise in prices. But within the different countries in the region, there are huge differences in electricity rates.


Energy think tank Vaasaett revealed that, if we take exchange rates out of the equation, Helsinki is the cheapest of all 23 cities surveyed. Berlin pays 2 and ½ times as much because of taxes and subsidies, which cover about a third of the electricity bill. Despite price rises, the UK has one of the cheaper electricity prices in Europe.


Across Europe, the actual energy used comprises 41% of the household’s electricity bill, 33% distribution, 11% energy taxes and 16% sales taxes.




When it comes to gas, Stockholm tops the list as the most expensive city with prices three times higher than Luxembourg City, the cheapest. London is the second cheapest in the region despite price rises.


In the region on average, the actual wholesale gas price is 54% of the gas bill, 23% goes to distribution, 7% to energy taxes and 16% to sales tax.



Price must also be seen in the context of the people’s ability to pay them. Although electricity and gas rates in the UK are cheap compared neighbouring countries, fuel poverty is a major concern. EU figures said that 6.5% of Brits cannot keep their homes warm.




Populations that also struggle to pay for their bills include Bulgaria (47% of the population), Lithuania (34%), Cyprus (31%), Portugal (27%) and Greece (26%). Meanwhile, less than 2% of Scandinavians cannot afford to keep their homes warm.


Many Europeans are also struggling to keep up with their payments for energy consumption. A third of Greeks (32%), 28% of Bulgarians and Croatians, 27% of Romanians and 23% of Latvians say they are in arrears with their bills.


If energy prices continue to rise, then the trend would mean more people will not afford to heat their homes properly this winter.





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