Malta has achieved the largest reduction in electricity prices in the European Union since 2013, according to recent data from Eurostat. In the first half of 2023, electricity prices for households in Malta were €0.13 per kilowatt hour, significantly lower than the eurozone average of €0.31 per kilowatt hour—almost two and a half times higher than what Maltese households pay. These figures place Malta as having the third lowest electricity bills in the EU and the lowest among eurozone countries.

During the 2025 Budget announcement, Minister Clyde Caruana emphasised the government’s commitment to protecting households and businesses from escalating energy costs. “We are continuing, for another year, to protect families and businesses from higher energy bills,” he stated, noting that no other EU country has provided comparable levels of energy support.

This achievement reflects the Labour Party’s social policy in action. In 2013, Malta’s electricity prices ranked as the 13th highest in the EU, with households paying €0.17 per kilowatt hour. Over the past decade, Malta has risen ten places, now ranking among the lowest in terms of electricity costs across the EU. Eurostat data further reveals Malta’s remarkable progress, highlighting a 25% reduction in electricity costs since 2013. In contrast, electricity prices in the EU increased by nearly 40% during the same period.

The statistics also reveal a significant contrast with the previous administration’s record. From 2008 to 2013, Malta experienced the highest increase in household electricity prices across the EU, with bills rising by 68%—far exceeding the EU average increase of 26%. This trend was effectively reversed under the current government, with electricity costs for households decreasing substantially over the last decade.

The industrial sector has also benefitted from these energy policy shifts. Since 2013, electricity prices for Maltese businesses have dropped by 25%, whereas the eurozone has seen a 48% increase. In 2013, Maltese industrial electricity prices were about 25% above the EU average; by 2023, they were a third lower. Notably, while electricity prices for businesses around the eurozone declined by 14% in 2024, prices in Malta remained stable, with other countries such as Denmark experiencing hikes as high as 49%.

This stability in energy prices has contributed significantly to Malta’s economic resilience and comparatively low inflation rates. For Maltese businesses, the reduction in energy costs has eased operational expenses, enabling growth at a rate exceeding the European average. Minister Caruana emphasised the government’s commitment to shielding citizens from global economic volatility: “This Government believes that the people do not have to suffer the blow of what is happening around us. Through wise and diligent efforts, we are now reaping the benefits of our policies.”

The data presented by Eurostat shows Malta’s effective approach to energy policy, highlighting the long-term impact of government initiatives on the economy and the daily lives of its citizens. As Malta continues to build on these achievements, the sustained focus on affordability and stability in energy costs is setting a model for the rest of the EU to follow.

An excerpt from Eurostat – full report here.