Malta with the third high­est in­crease in en­ergy prices in 2017

The Malta Business Weekly - - FRONT PAGE -

Malta reg­is­tered the third high­est in­crease in en­ergy prices in the EU in 2017, Euro­stat re­ported yes­ter­day.

Across the EU Mem­ber States, the high­est in­crease in house­hold elec­tric­ity prices in na­tional cur­rency be­tween the sec­ond half of 2016 and the sec­ond half of 2017 was reg­is­tered in Cyprus (+12.6%), fol­lowed by Ro­ma­nia (+7.2%), Malta (+7.1%), Es­to­nia (+6.5%), the United King­dom (+5.3%), Bul­garia and Bel­gium (both +4.8%) and Poland (+4.5%).

In con­trast, the most no­tice­able de­creases were ob­served in Italy (-11.1%), Croa­tia (-7.5%), Slo­vakia (-6.2%) and Greece (6.0%).

Ex­pressed in euro, av­er­age house­hold elec­tric­ity prices in the sec­ond half of 2017 were low­est in Bul­garia (€9.8 per 100 kWh), Lithua­nia (€11.1) and Hun­gary (€11.3) and high­est in Ger­many (€30.5), Den­mark (€30.1) and Bel­gium (€28.8). The av­er­age elec­tric­ity price in the EU was €20.5 per 100 kWh.

When ex­pressed in pur­chas­ing power stan­dards, 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 (13.0 PPS per 100 kWh), Lux­em­bourg (13.4) and the Nether­lands (14.0), and the high­est in many (28.8), Por­tu­gal (28.0), Bel­gium (26.4), Ro­ma­nia (26.0) and Poland (25.4).

The share of taxes and levies in to­tal house­hold elec­tric­ity prices var­ied sig­nif­i­cantly be­tween Mem­ber States, rang­ing from two-thirds in Den­mark (69% of house­hold elec­tric­ity price is made up of taxes and levies) and over half in Ger­many (55%) and Por­tu­gal (52%) to 5% in Malta in the sec­ond half of 2017. On av­er­age in the EU, taxes and levies ac­counted for more than a third (40%) of house­hold elec­tric­ity prices.

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