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HEPI to monitor energy prices in 23 EU European countries
HEPI to monitor energy prices in 23 EU European countries
Energie-Control Austria, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) and VaasaETT Have just published the results of our study of residential electricity and gas prices now covering 23 European countries
Helsinki,
Bulevardi 7,
Finland
(prbd.net)
09/10/2013
Energie-Control Austria, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) and VaasaETT Have just published the results of our study of residential electricity and gas prices now covering 23 European countries this month for the first time. HEPI now encompasses over 500 million people representing 97% of the EU-28 population.
KEY FINDINGS AS OF SEPTEMBER 2013
Electricity and gas prices (including distribution but excluding taxes) in the capital cities of the EU-15 have been evolving on an asymmetrical trend since early 2013 with electricity on an upward trend and gas steadily decreasing. The electricity index reached 115 points this month (stable from last month) while the gas index reached 106 index points (also stable from last month). The values of the HEPI indexes extended to the 22 EU countries that are part of our survey (Serbia is excluded from the index at the moment) barely budged compared to last month.
EUROPEAN ENERGY PRICE DEVELOPMENT
Residential electricity prices steadily decreased over the first half of 2009 and reached a trough at 96 index points in June 2009 as the economic crisis took its toll on demand and wholesale prices plummeted. Prices started to recover in the second half of 2009 together with (temporary) green shoots in economic activity and a general feeling that the worst of the crisis was behind us. They have been on an upward trend since then. The economic downturn which impacted energy demand and wholesale prices in 2009 is much more visible in the development of residential gas prices. The gas price index dropped significantly in 2009 and reached its lowest value only in February 2010 at 81 index points (eight months after the lowest value in the electricity price index). Retail prices started to recover in the winter of 2010 when a cold wave hit many parts of Europe. The index steadily increased ever since. Both indexes reached their peak values in January 2013 (at 117 index points for electricity and 110 for gas) and both have slightly lost ground since then. As of September 2013, electricity and distribution prices excluding taxes are about 15% higher than in January 2009 whereas gas and distribution prices excluding taxes are about 6% higher. The indexes have been evolving in an asymmetrical way since early 2013.
If you would like to know more about the latest developments in residential energy prices, visit our project webpage at http://www.energypriceindex.com/?page_id=6 and subscribe to the free monthly update of the HEPI index for Europe.
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