Lowest electricity price across the euro area

The price of electricity in the euro area is two and a half times what Maltese families pay.

Statistics released by Eurostat confirm that, in the second half of 2023, the price of electricity in Malta for households was €0.13 per kilowatt hour, while in the euro area the price was €0.30 per kilowatt hour, or almost two and a half times what Maltese families pay. Eurostat statistics indicate that Maltese households face the lowest electricity price in the euro area.

Price per unit (cents)

Malta13
Croatia15
Slovakia19
Luxembourg20
Slovenia21
Lithuania22
Portugal23
Greece23
Estonia23
Spain23
Finland24
Netherlands25
France26
Austria27
Latvia28
Euro area30
Italy33
Cyprus35
Belgium38
Ireland38
Germany40

Eurostat statistics show that, in Malta, in the five years preceding the change of Government in 2013 the price of electricity had risen by 68%. At the same time across the EU there was an increase of only 26%. This confirms that the previous Government had raised prices by almost three times the EU average.  In contrast, the present Government reduced electricity by 25% when in the rest of Europe in the same period prices went up by almost 40%.

Over the past year, while prices in Malta have remained stable, those in the euro area have increased by 3%. Among the biggest increases were those in the Netherlands with a price hike of 86%, Germany with an increase of 20%, France and Ireland where prices rose by 18%, and an increase of 16% in Austria.

Between 2008 and 2013 Malta had the highest increase in the price of electricity for households in the EU. Between 2013 and 2023 Malta had the largest decline.

Even when it comes to the price of electricity for businesses, official data confirm that Malta has the lowest electricity price in the euro area. While in 2013 the price of electricity for industry was a quarter higher than the EU average price, in 2023 the price in Malta was one third lower than average.

In the last decade, the price of electricity for industry has decreased by 25%, while the average price across the euro area for firms has increased by 64%. In contrast, in the five years before the change of Government in 2013, the price of energy for industry in Malta was hiked by 47%, while in the EU there was an increase of just 24%.

During 2023 on average electricity prices for businesses decreased in the euro area by 3%. But in several countries there were still sharp increases. The biggest increase was in France, where the price for industry increased by 71%, in Austria and the Netherlands the rise was of 38% and 36% respectively, while there was an increase of 53% in the price for firms in Luxembourg.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Menu