Energy prices fell in 2009, official stats show

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The Independent Online

Energy prices in the EU fell last year, in some places by up to nearly 30 percent, according to figures released last week by the European Union.

In the 27 European countries, gas prices plummeted 16 percent between the second half of 2008 and 2009.

Across the same area, electricity prices fell by 1.5 percent, said the EU department of statistics.

The fall is a significant change given that between the same time periods in 2007 and 2008, household electricity prices in the EU27 rose by 6.8 percent, and gas prices by 21 percent.

The average electricity price in the 27 EU member nations was 16.5 euro per 100 kWh, whilst the average gas price was 14.7 euro per gigajoule.

The largest fall in gas prices were observed in Belgium (-29 percent), Italy (-26 percent), Latvia and Slovenia (both -24 percent) and Germany (-23 percent).

The largest falls in electricity prices were seen in Cyprus (-20 percent), Italy (-10 percent), Ireland (-9 percent) and Denmark (-8 percent).

Adjusted for each country’s purchasing power, the cheapest gas in Europe was found in Luxembourg, Belgium and the United Kingdom.

The lowest household electricity prices were found in Finland, France and Greece.