Household energy prices in Malta around €5 cheaper than EU average

Household energy prices in Malta are around €5 less than the European Union average, according to data released by Eurostat, the EU's statistical agency.

The price per 100 kWh in 1st half of 2017 was €12.80 in Malta. The average price for the EU in the same period was €20.40, while in the Euro area it was €22.0.

This makes household energy prices in Malta the sixth cheapest in the EU.

The data shows that, when compared to the first half of 2016, household energy prices in Malta increased by 1.7%.

In the EU, household electricity prices slightly decreased (-0.5%) on average between the first half of 2016 and the first half of 2017.

The highest increase was registered by far in Cyprus (+22.0%), followed by Greece (+12.8%), Belgium (+10.0%), Poland (+6.9%), Sweden (+5.5%) and Spain (+5.1%).

In contrast, the most noticeable decreases were observed in Italy (-11.2%), Croatia (-10.2%) and Lithuania (-9.3%), well ahead of Luxembourg (-4.9%), Austria (-4.1%), Romania (-4.0%) and the Netherlands (-3.6%).

Expressed in euro, average household electricity prices in the first half of 2017 were lowest in Bulgaria (€9.6 per 100 kWh), Lithuania (€11.2) and Hungary (€11.3) and highest in Denmark and Germany (both €30.5) followed by Belgium (€28.0).

When expressed in purchasing power standards (PPS), an artificial common reference currency that eliminates general price level differences between countries, it can be seen that, relative to the cost of other goods and services, the lowest household electricity prices were found in Finland (12.8 PPS per 100 kWh), Luxembourg (13.5) and the Netherlands (14.2), and the highest in Germany (28.7), Portugal (28.6), Poland (25.9), Belgium (25.6) and Spain (25.4).

 

Share of tax and levies in final price

The data also shows that the Maltese pay the least amount in taxes and levies on their energy bills.

The share of taxes and levies in total household electricity prices varied significantly between Member States, ranging from two-thirds in Denmark (67% of household electricity price is made up of taxes and levies) and over half in Germany (54%) and Portugal (52%) to 5% in Malta in the first half of 2017.

On average in the EU, taxes and levies accounted for more than a third (37%) of household electricity prices.

from The Malta Independent http://ift.tt/2ANrJ1Y
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