Across Europe, electricity and gas prices have increased heavily since last year.

In the first half of 2022, the European Commission revealed that electricity prices have risen by €3.30 (£2.84) per 100KWh and gas prices have risen by €2.40 (£2.07) compared with the same period of 2021.

The average price of electricity on the continent now stands at €22 (£18.96) per 100KWh, with gas at €8.60 (£7.41) per 100KWh.

However, the weight of taxes and levies in energy bills charged to customers has fallen, as governments have looked to implement subsidies to cut costs – similar to the Energy Price Guarantee in the UK.

The amount of taxes in electricity bills in Europe has dropped by 15% compared with 2021, and 8.6% for gas.

Electricity prices for homeowners rose in 22 EU member states this year, according to the report – with the largest increases in the Czech Republic (62%) and Latvia (59%).

Only five countries saw decreases in electricity prices – the Netherlands, Slovenia, Poland, Portugal and Hungary – with all of these due to government subsidies.

The lowest average household price of electricity was €5.90 (£5.08) per 100KWh in the Netherlands, with the most expensive being Denmark, at a whopping €45.60 (£39.30) per 100KWh.

Gas prices increased in 23 EU member states, with Estonia (154%) and Lithuania (110%) witnessing the largest increases.

Only one country, Hungary, saw a decrease, with its price being regulated – although this was just by 0.5%.

The data was published by Eurostat on behalf of the European Commission.

Article source: https://www.energylivenews.com/2022/11/01/how-much-have-energy-prices-shot-up-this-year/