EU Energy Prices Peak Early 2023 But Now Declining; Netherlands Has Highest Costs While Turkey Has Lowest
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Electricity and gas prices in Europe peaked in early 2023 but are now declining from the highs, although still above 2022 levels.
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The Netherlands had the most expensive electricity (€47.5 per 100 kWh) and gas (€24.8) prices in the EU in early 2023.
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Turkey had the cheapest electricity (€8.4) and gas (€2.5) prices among EU countries and candidates.
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The Netherlands saw a 953% increase in electricity prices from 2022 to 2023, the largest jump in the EU.
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EU imports of Russian natural gas dropped from nearly 50% pre-war to 12% in October 2022.