Electricity prices fourth lowest in EU last year

Electricity prices in Malta were the fourth lowest in the EU during the second half of 2019, according to Eurostat. On average, household electricity prices across the 27 EU countries increased by 1.3% between the second half of 2018 and the second half of last year. Prices ranged from €10 per 100 kWh in Bulgaria to around €30 per 100 kWh in Denmark, Belgium and Germany. Malta’s prices in the second half of 2019 stood at €13.1. 

The share of taxes and levies forming part of electricity prices in Malta was the lowest by far in the EU, at just 6%. [attach id=872108 size="large" align="left" type="image"]Source: Eurostat.[/attach]On average, 41% of electricity prices in the EU are made up of taxes. Expressed in purchasing power standards, a metric used to eliminate price differentials between countries, Malta’s prices are the third lowest in the EU. According to Reuters, COVID-19 lockdown measures have pummeled global gas demand, forcing cuts in LNG output. The Opposition has led calls for electricity prices to be slashed by half to help struggling businesses. The government has not committed to any cuts, but has not ruled them out either.