In the first half of 2024, Bulgaria stood out in the European Union for its remarkably low household electricity and gas prices, according to Eurostat data. While electricity prices across the EU saw a slight overall decrease compared to 2023, Bulgaria benefited from exceptionally low rates, with household electricity priced at just 11.9 euros per 100 kWh. This is significantly lower than the EU average of 29.4 euros per 100 kWh in the first half of 2023 and far below the highest prices in Germany (39.5 euros), Ireland (37.4 euros), and Denmark (37.1 euros).
Electricity prices in Europe saw a minor increase from the latter half of 2023, climbing from 28.3 euros to 28.9 euros per 100 kWh, largely due to governments cutting back on subsidies and tax incentives. Out of the EU countries, 16 recorded a decrease in electricity prices over the year, while 11 experienced increases.
Natural gas prices also fell, with Bulgaria seeing a significant reduction of 34.6% compared to the first half of 2023. Among the 24 EU countries reporting gas prices, 15 showed declines. Bulgaria’s gas prices rank as some of the lowest in the EU, surpassed only by Hungary, Croatia, Slovakia, and Romania. In contrast, Italy and France faced increases in household gas prices, up by 16% and 13% respectively.
Overall, Bulgaria’s position as a leader in affordable energy highlights its benefits for consumers amidst broader trends in the EU energy market.
