Hungarian price of electricity lowest in the EU
According to the latest Eurostat data, the price of electricity and gas underwent a continuous decrease in the second half of 2023. Within the European Union, Hungarian residents had to pay the least for electricity at the end of last year, and the country fared similarly well when it comes to the price of gas, too.
Energy costs decreasing in the European Union
As per the latest Eurostat report, the price of electricity and the cost of gas in the EU started to rise just before the Ukraine war and reached a massive peak in 2022. Costs began to fall in the second half of 2023, as the price of supplying energy managed to stabilise at the beginning of the year.
At the same time, when compared to tariffs prior to the climax in 2022, the costs of energy, supply, and network are still relatively high.
Residential electricity prices fell between 2022 and 2023 in 23 European Union member states. The average household electricity price in the region was EUR 28.5/100 kWh in the second half of 2023, down from EUR 29.4/100 kWh in the first half.
Gas prices showed a similar trend in some countries in the region, mainly due to lower energy costs and cuts in taxes. 12 countries reported price increases, while the other 12 countries using gas reported price decreases. The average household gas price fell to EUR 11.3/100 kWh in the second half of 2023, down from EUR 11.9/100 kWh in the previous six months.
In Poland, prices were 32 percent higher, in Slovakia and Germany 22 percent higher, while Greece, Denmark, and Bulgaria saw the largest price decreases, around 40 percent reduction in the case of each country. In the industrial sector, all but three countries reported decreases, indicating a clear downward trend in gas prices.
In the region, the price of electricity was lowest in Hungary
Eurostat highlights that Hungary had the lowest average household electricity prices with EUR 11.3/100 kWh in the second half of 2023. The second lowest price of electricity was in Bulgaria (EUR 11.9), and the third lowest in Malta (EUR 12.8).
Whereas, the price of electricity was highest in Germany (EUR 40.2/100 kWh), Ireland (EUR 37.9), and Belgium (EUR 37.8).
Hungary had the lowest average price of household gas (EUR 3.3/100 kWh) in the first half of 2023. Hungary was followed by Croatia with EUR 4.6/100 kWh and Romania with EUR 5.6/100 kWh.
On the other hand, the three highest prices were recorded in Sweden (EUR 20.7), Ireland (EUR 16.4) and the Netherlands (EUR 24.8).
Read also:
- Orbán’s minister: Hungary needs Russian oil, gas – HERE
- Why are petrol prices soaring in Hungary? Unveiling the truth behind the high costs! – Read HERE
Source: Eurostat
The question is … Did the pricing actually cover cost – or is it another case of our Politicians playing games again and magically sticking us with the bill, later?
Some interesting observations in this data – not all roses:
https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Electricity_price_statistics#Electricity_prices_for_household_consumers
Those thinking life is better in the West tend to get a rude awakening when they get the first electric bill. Electric that costs 10,000 Fts. here is more than five times that in Germany, England, and northern Europe. (The salaries, though, are not.) And if the globalist-socialist patsies ever get in power here, the same thing will happen.
Well done Norbert, it is interesting how the magazine is picking up some graphs and ignoring others showing the total opposite facts!