HC 742 Electricity Market Reform

Ofgem submission: UK energy prices in comparison with Europe

Overview

1. During our oral evidence session with the Committee (18th January 2011) we agreed , in response to a question from Albert Owen MP, that we would provide details on how United Kingdom domestic electricity prices contrast with prices within Europe. This information follows and for additional assistance we have also provided the same detail for domestic natural gas prices.

2. All data in this submission is sourced from Eurostat and is for the first half of 2010, which is the latest data set available. All prices are expressed in terms of Euros.

Electricity

3. The latest data indicates that the UK domestic price for electricity, excluding VAT and tax, is slightly above the EU 27 average.

Price per kWh (not inc VAT and tax): UK 0.1321 EU Average 0.1223

Price per kWh (inc VAT and tax): UK 0.1386 EU Average 0.1676

Natural Gas

4. The latest data indicates that the UK domestic price for natural gas excluding VAT and tax, is slightly below the EU 27 average.

Price per GJ (not inc VAT and tax): UK 10.73 EU Average 11.12

Price per GJ (inc VAT and tax): UK 11.26 EU Average 14.53

Full data set

 

Electricity

 

Natural Gas

 

 

Without tax and VAT

With tax and VAT

Without tax and VAT

With tax and VAT

Austria

0.1431

0.1956

12.5400

17.2900

Belgium

0.1549

0.2032

11.7500

14.7000

Bulgaria

0.0675

0.0813

8.5080

10.2107

Croatia

0.0934

0.1151

8.6454

10.6326

Cyprus

0.1597

0.1858

:

:

Czech Republic

0.1108

0.1345

10.8661

13.0395

Denmark

0.1168

0.2670

14.6034

29.6959

Estonia

0.0695

0.0970

7.7148

10.0680

Euro area

0.1234

0.1765

11.4856

15.9794

European Union (27 countries)

0.1223

0.1676

11.1203

14.5413

Finland

0.0998

0.1325

:

:

France

0.0922

0.1256

12.2500

14.4600

Germany

0.1381

0.2375

11.5400

15.7000

Greece

0.0975

0.1181

:

:

Hungary

:

:

:

:

Ireland

0.1589

0.1804

12.0700

13.7900

Italy

:

0.1967

10.4490

17.1480

Latvia

0.0954

0.1049

7.9209

8.7257

Lithuania

0.0955

0.1156

8.6206

10.4309

Luxembourg

0.1433

0.1726

10.6000

12.0700

Malta

:

:

:

:

Netherlands

0.1266

0.1704

11.1900

19.4600

Norway

0.1484

0.2027

:

:

Poland

0.1049

0.1341

9.6777

11.8066

Portugal

0.1093

0.1584

15.7050

16.4910

Romania

0.0856

0.1031

4.1793

7.6380

Slovakia

0.1277

0.1520

10.1770

12.1110

Slovenia

0.1057

0.1401

12.4105

15.9965

Spain

0.1417

0.1728

12.7863

14.8321

Sweden

0.1195

0.1839

16.4473

28.7061

Turkey

0.1067

0.1342

7.3121

8.9794

United Kingdom

0.1321

0.1386

10.7288

11.2621

Andrew Wright
Senior Partner Markets, Ofgem
January 2011