The average price of electricity in the European Union rose sharply year-on-year in the first half of the year. The Czech Republic had the highest increase, at 62 percent. The Czech Republic was closely followed by Latvia (+59%) and Denmark (+57%).

That’s according to data from the European statistics office, Eurostat, on Monday. Higher energy prices are significantly affected by Russia’s military aggression in Ukraine.

European households paid 25.3 euros (620 CZK) per 100-kilowatt hours (kWh) in the first half of 2022, compared with 22 euros (539 CZK) per 100 kWh in the same period last year.

Consumers in the Netherlands (-54 percent), Slovenia (-16 percent), Poland (-3 percent), Portugal, and Hungary (both -1 percent) had the lowest prices. In the cases of the Netherlands, Slovenia, and Poland, the fall in prices was linked to government subsidies, while in Hungary, prices are regulated, Eurostat explained.

Gas prices also increased, with the average price rising from €6.4 (CZK 157) per 100 kWh to €8.6 (CZK 210) per 100 kWh compared to the same period in 2021.

Compared to the first half of 2021, gas became more expensive in 23 of the 24 EU Member States. Gas prices increased the most in Estonia (+154%), Lithuania (+110%), and Bulgaria (+108%).In the Czech Republic, the price increase was the tenth highest.

Only in Hungary (-0.5 percent) did gas prices for household consumers fall slightly over the same time period. Again, this is due to the fact that energy prices are regulated in that country.

Source