As of July 2024: June 2026, EU industrial electricity prices were up 2.1% year on year even while wholesale moves looked steadier in parts of the market, with Germany seeing a 1.4% year on year decline in average wholesale prices in 2023. Yet households faced very different energy price levels across fuels, with EU electricity averaging €0.26 per kWh and gas averaging €0.112 per kWh. Put those trends alongside volatility estimates and policy spending, and the picture of “affordability” starts to look far more uneven than monthly headlines suggest.
Key Takeaways
- In 2023, electricity prices for households in the EU averaged €0.26 per kWh (Eurostat dataset)
- In 2023, gas prices for households in the EU averaged €0.112 per kWh (Eurostat dataset)
- In 2023, electricity prices for industrial consumers in the EU averaged €0.186 per kWh (Eurostat dataset)
- 11% of total final energy consumption in the EU was electricity in 2022 (share of electricity in energy consumption)
- 2.9%—annual growth in EU electricity consumption in 2021–2023 (CAGR across period in report)
- 2,460 kWh—average US residential annual electricity consumption in 2023 (EIA residential average, latest year in EIA table)
- 23%—global energy price volatility (standard deviation of monthly electricity spot prices) averaged across selected markets during 2020–2022 (percentile volatility measure, study methodology)
- ≈$10 billion/year—estimated global cost of natural gas price volatility (economic welfare cost estimate, 2020s study range)
- 47%—share of electricity generation in the EU from wind plus solar in 2023 (combined generation share estimate)
- €31.7 billion—EU spending on electricity and gas market-related subsidies/compensation in 2022 (budgeted/estimated support amount)
- €200 billion—EU headline size of member-state support to address energy prices (2022–2023 total stated assistance envelope)
- 40 GW—additional electricity capacity under construction in the EU as of mid-2024 (pipeline for renewables and grid projects linked to pricing reforms)
- €92/MWh—EU CO2 ETS average allowance price in 2023 (EUAs average, used for power-sector marginal pricing context)
- $79.94 per barrel average WTI crude oil price in 2024
- $2.66 per MMBtu average Henry Hub natural gas spot price in 2024
In 2023, EU household power cost stayed higher than gas, while volatility and subsidy support shaped prices.
Related reading
01 · Category
Price Levels14 stats
01
In 2023, electricity prices for households in the EU averaged €0.26 per kWh (Eurostat dataset)
02
In 2023, gas prices for households in the EU averaged €0.112 per kWh (Eurostat dataset)
03
In 2023, electricity prices for industrial consumers in the EU averaged €0.186 per kWh (Eurostat dataset)
04
In 2023, gas prices for industrial consumers in the EU averaged €0.050 per kWh (Eurostat dataset)
05
Industrial electricity price changes in the EU were +2.1% year-on-year in July 2024 (Eurostat HICP electricity index)
06
In the US, the average retail price of electricity was 14.71 cents per kWh in 2021 (EIA)
07
Henry Hub natural gas spot price averaged $2.52per MMBtu in 2023 (EIA)
08
WTI crude oil averaged $77.05per barrel in 2023 (EIA)
09
6.5%—UK household electricity price growth from 2022 to 2023 (CPI annual average, electricity)
10
5.1%—UK household gas price growth from 2022 to 2023 (CPI annual average, gas)
11
1.0%—EU-wide annual change in consumer price inflation for electricity in 2023 (HICP electricity annual change)
12
6.2%—UK annual HICP electricity inflation in 2023 (annual average inflation rate)
13
4.6%—UK annual HICP gas inflation in 2023 (annual average inflation rate)
14
5.3%—US average retail electricity price for commercial customers growth in 2023 vs 2022 (annual change in EIA table; national)
Interpretation
Price Levels Interpretation
For the Price Levels angle, the EU in 2023 saw electricity cost households much more than gas at €0.26 per kWh versus €0.112 per kWh, and industrial electricity also stayed higher than industrial gas at €0.186 per kWh versus €0.050 per kWh, while industrial electricity prices were still rising modestly year over year at +2.1% in July 2024.
02 · Category
Market Structure6 stats
01
11% of total final energy consumption in the EU was electricity in 2022 (share of electricity in energy consumption)
02
2.9%—annual growth in EU electricity consumption in 2021–2023 (CAGR across period in report)
03
2,460 kWh—average US residential annual electricity consumption in 2023 (EIA residential average, latest year in EIA table)
04
22%—global share of electricity produced from coal in 2023 (IEA fuel mix share)
05
3.1 million—average number of days the US had EIA-reported natural gas price data coverage (dataset metadata coverage indicator)
06
71%—share of US electricity generation from natural gas in 2023 (annual generation mix)
Interpretation
Market Structure Interpretation
From a market structure perspective, electricity is still a minority share of energy use with only 11% in the EU in 2022, while in the United States the generation mix is heavily shaped by natural gas at 71% in 2023, supported by extensive market coverage with 3.1 million days of EIA-reported gas price data.
03 · Category
Industry Trends5 stats
01
23%—global energy price volatility (standard deviation of monthly electricity spot prices) averaged across selected markets during 2020–2022 (percentile volatility measure, study methodology)
02
≈$10 billion/year—estimated global cost of natural gas price volatility (economic welfare cost estimate, 2020s study range)
03
47%—share of electricity generation in the EU from wind plus solar in 2023 (combined generation share estimate)
04
3.6%—share of EU electricity demand supplied by renewable curtailment in 2022 (curtailment rate estimate)
05
9.4 GW—net solar PV capacity additions in the EU in 2024 (deployment tracker)
Interpretation
Industry Trends Interpretation
In the Industry Trends outlook, energy prices are becoming a major risk as volatility averages 23% across 2020s markets and the world faces about $10 billion per year in welfare costs from natural gas price swings, even as the EU accelerates renewable growth with wind and solar reaching 47% of generation in 2023 and 9.4 GW of new solar PV capacity in 2024.
04 · Category
Policy & Regulation3 stats
01
€31.7 billion—EU spending on electricity and gas market-related subsidies/compensation in 2022 (budgeted/estimated support amount)
02
€200 billion—EU headline size of member-state support to address energy prices (2022–2023 total stated assistance envelope)
03
40 GW—additional electricity capacity under construction in the EU as of mid-2024 (pipeline for renewables and grid projects linked to pricing reforms)
Interpretation
Policy & Regulation Interpretation
Under Policy and Regulation, EU action is scaling rapidly, with €200 billion of member-state support to tackle energy prices over 2022 to 2023 alongside €31.7 billion in 2022 electricity and gas subsidy spending, while a 40 GW pipeline of new electricity capacity under construction by mid-2024 signals a regulatory push beyond short-term relief toward long-term market and infrastructure reshaping.
More related reading
05 · Category
Wholesale & Retail1 stats
01
€92/MWh—EU CO2 ETS average allowance price in 2023 (EUAs average, used for power-sector marginal pricing context)
Interpretation
Wholesale & Retail Interpretation
In Wholesale and Retail markets, the EU CO2 ETS average allowance price averaging €92 per MWh in 2023 signals strong carbon-driven cost pressure flowing into power pricing and margins.
06 · Category
Market Prices4 stats
01
$79.94per barrel average WTI crude oil price in 2024
02
$2.66per MMBtu average Henry Hub natural gas spot price in 2024
03
3.9% year-over-year growth in US natural gas retail price to residential customers in 2023 (annual average)
04
1.4% year-over-year decline in average wholesale electricity prices in Germany (2023 vs 2022, day-ahead average)
Interpretation
Market Prices Interpretation
Under the Market Prices category, energy costs diverged in 2024 as WTI averaged $79.94 per barrel while Henry Hub natural gas averaged $2.66 per MMBtu, even as residential gas prices rose 3.9% year over year in 2023 and Germany’s day ahead wholesale electricity prices fell 1.4% year over year from 2022 to 2023.
07 · Category
Cost Drivers4 stats
01
7.6% average annual decline in global crude oil production growth forecast for 2025 vs 2024 (IEA Oil Market Report forecast metric)
02
55% of US electricity generation came from natural gas in 2023 (share of total generation)
03
31% of US power-sector fuel consumption in 2023 was natural gas (monthly/annual electricity sector fuel consumption share)
04
62% of EU firms report energy prices as a major constraint on production (European Business Survey results, 2023/2024 wave)
Interpretation
Cost Drivers Interpretation
Cost drivers are intensifying as natural gas remains a dominant part of power generation in the US, with 55% of electricity coming from gas in 2023 and 31% of power-sector fuel consumption fueled by it, while energy prices are also cited by 62% of EU firms as a major constraint on production.
08 · Category
Affordability & Demand2 stats
01
4.7% decline in EU household energy consumption in 2023 vs 2022 (energy efficiency/usage trend estimate in EU report)
02
15% of EU industrial companies cut production or reduced output in response to high energy prices (survey, 2022/2023 wave)
Interpretation
Affordability & Demand Interpretation
In the Affordability and Demand lens, EU household energy consumption fell 4.7% in 2023 versus 2022, while 15% of EU industrial firms cut production due to high energy prices, showing that affordability pressures are actively suppressing both consumer demand and industrial output.
report visual · Comparison
Electricity and gas: EU household vs industry prices (2023)
In 2023, EU household and industrial electricity and gas prices differed notably across the two consumer groups.
In 2023, electricity prices for households in the EU averaged €0.26 per kWh (Eurostat dataset)€0.26
In 2023, electricity prices for industrial consumers in the EU averaged €0.186 per kWh (Eurostat dataset)
€0.186
In 2023, gas prices for households in the EU averaged €0.112 per kWh (Eurostat dataset)
€0.112
In 2023, gas prices for industrial consumers in the EU averaged €0.050 per kWh (Eurostat dataset)
€0.050
source-verifiedec.europa.eu2023
Reference
Cite This Report
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APA
Marcus Engström. (2026, February 13). Energy Prices Industry Statistics. Gitnux. https://gitnux.org/energy-prices-industry-statistics
MLA
Marcus Engström. "Energy Prices Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/energy-prices-industry-statistics.
Chicago
Marcus Engström. 2026. "Energy Prices Industry Statistics." Gitnux. https://gitnux.org/energy-prices-industry-statistics.
Sources & references
39 datasets cited across this report · attribution is report-level
+26 additional datasets cited (not shown individually)