Greece registered the largest drop in natural gas prices in the second half of 2023, according to data released on Thursday by the EU’s statistical body, Eurostat.
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022.
Poland (+32%), Slovakia, and Germany (both +22%) registered the highest price increases in natural gas for households, while Greece (-42%), Denmark (-41%), and Bulgaria (-40%) witnessed the highest decreases.
Expressed in euros, the average household electricity prices in the second half of 2023 were the lowest in Hungary (11.3 euros per 100 kWh), Bulgaria (11.9 euros), and Malta (12.8 euros), and the highest in Germany (40.2 euros), Ireland (37.9 euros) while in Greece, it stood at 28.15 euros, according to Eurostat.
The data showed that in the second half of 2023, average household electricity prices in the EU decreased (28.5 euros per 100 kWh) compared to the first half (29.4 euros per 100 kWh), and were slightly up compared to the second half of 2022.
Between the second half of 2022 and the second half of 2023, natural gas prices (in national currencies) increased the most in Lithuania (+68%) and decreased the most in Denmark (-39%).
