Bulgaria Boasts EU's Second Lowest Household Electricity Prices in H2 2023

Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability. According to the report released on Thursday, Bulgaria secured the title of having the EU's second-lowest household electricity prices in the second half of 2023, trailing only behind Hungary.

The data reveals a welcome respite for consumers, with electricity and gas bills experiencing a decrease in the latter half of 2023. This follows a period of tumultuous increases precipitated by geopolitical tensions, particularly surrounding the Russian war of aggression against Ukraine.

In euro terms, Bulgaria boasted household electricity prices of EUR 11.9 per 100 kWh, a testament to the country's commitment to ensuring accessible energy for its citizens. When measured in Purchase Power Standards (PPS), Bulgarian household consumers paid 19.77 currency units per 100 kWh of electricity and 11.66 currency units per 100 kWh of gas, further solidifying Bulgaria's position as an energy-efficient nation.

Across the EU, the average household electricity prices witnessed a decrease to EUR 28.5 per 100 kWh in the latter half of 2023, down from EUR 29.4 in the first half. Despite this decline, prices remained slightly elevated compared to the same period in 2022, highlighting the lingering effects of previous peaks.

Similarly, average gas prices for households experienced a dip to EUR 11.3 per 100 kWh in the second half of 2023, reflecting a downward trajectory from previous semesters. This reduction, coupled with stabilization in energy, supply, and network costs, bodes well for consumers and industries alike.

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