Londoners paid highest electricity prices in Europe in February

Households in London and Copenhagen pay by far the highest end-user prices in Europe, while Brussels, Berlin, and Rome are next on the list. Power prices are the lowest for the inhabitants of Kyiv, followed by Belgrade, Budapest, and Podgorica, according to an analysis of electricity prices in 33 European capital cities as of February 1.

Household electricity prices in the capital cities of Central and Eastern European countries (CEE) tend to be lower than the European average in nominal terms, with Prague being the only one above it, according to the Household Energy Price Index for Europe, compiled by Energie-Control Austria, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) and VaasaETT.

The highest price is in London, 43 eurocents per kilowatt-hour, and the lowest in Kyiv, 5.4 eurocents. Among the capitals of the countries tracked by Balkan Green Energy News, households in Athens pay the highest prices – 27 eurocents, followed by Nicosia with 26 eurocents, and electricity is the cheapest in Belgrade – 8 eurocents, and Podgorica, 10 eurocents.

The picture changes dramatically when adjusted to purchasing power standards (PPS) in each country. Power prices expressed in PPS are shown concerning the cost of other goods and services.

The lowest adjusted household electricity prices are found in Oslo (11 eurocents), Bern (13), Valletta (14), and Belgrade (15). They are the highest in Prague (45), Brussels (39), Rome (38), and Berlin (36), the report reads.

Among the capitals of the countries tracked by Balkan Green Energy News, there is no change compared to prices in nominal terms: Athens is at the top, and Belgrade is at the bottom of the list.

In February, prices increased in Nicosia, Oslo, Paris, Prague, and Rome and decreased in 11 metropolises.

The decreases can be explained by the measures introduced by the governments to mitigate the effects of the energy crisis, a reflection of January wholesale price decreases, or the return to more “normal” price levels after extreme December increases, the report reads.

However, the prices remained significantly high compared to one year before.

According to the report, despite the recorded drop, government interventions failed to stop the increasing trend in some of the cities, so new records were hit again in Athens, Bern, Nicosia, Paris, Prague, and Rome.