EU household gas prices rise in the second half of 2024

In the second half of 2024, household gas prices in the EU rose for the first time after they had abated following the 2022 energy crisis. Average prices, including taxes, rose to €12.33 per 100 kWh, up from €11.04 in the first half of the year. This is the highest recorded price since data collection began in 2008. The increase is largely driven by raised taxes in many EU countries, as earlier alleviation measures were scaled back.

Source dataset:  nrg_pc_202

This information comes from data on gas prices published recently by Eurostat. The article presents a handful of findings from the more detailed Statistics explained article on natural gas prices. 

Considerable price variations across EU countries

Across the EU, there were wide disparities in household gas prices. Sweden recorded the highest prices at €18.93 per 100 kWh, followed by the Netherlands (€16.71) and Italy (€15.86). Conversely, Hungary (€3.20 per 100 kWh), Croatia (€4.60) and Romania (€5.40) reported the lowest prices.

On a year-to-year basis, 6 EU countries experienced price increases compared with the second half of 2023. These hikes were largely driven by higher taxes, as various tax reductions were reduced or abolished. In contrast, 14 EU countries reported decreases in gas prices, primarily due to reduced energy and supply costs.

Source dataset: nrg_pc_202

Expressed in purchasing power standard (PPS), the highest natural gas prices for households were observed in Portugal (16.60), Italy (16.49) and Sweden (16.08). The lowest prices based on PPS were in Hungary (4.72), Luxembourg (5.57) and Croatia (6.67).

Stabilisation in gas prices for non-household consumers

In the second half of 2024, the downward trend in non-household gas prices in the EU came to a halt, with both prices inclusive and exclusive of taxes showing marginal increases. The average prices excluding VAT rose slightly to €6.24 per 100 kWh from €6.16 in the first half, while prices excluding all taxes rose to €5.41 from €5.30.

On a year-to-year basis, among the EU countries with available data, only 2 experienced price increases in the non-household sector, while a significant majority, 21 countries, registered decreases. The drop in prices is mainly attributed to reduced energy and supply costs, while taxes and network costs did not undergo considerable changes.