BAKGRUNN (fra kommisjonsrapporten)

Since 2020, European and global energy markets have been going through a severe crisis. This was the result of multiple factors, starting with a COVID-induced recession followed in 2021 by strong post-COVID global economic recovery, unfavourable weather conditions for renewable generators, and outages at France’s nuclear power fleet. Following Russia’s full-scale invasion of Ukraine in February 2022, the crisis entered a new dimension, comparable to the oil crises in the 1970s, with an unprecedented disruption in Europe’s natural gas supply, leading to historically high gas and electricity prices.

The EU reacted to this crisis with unity, determination and solidarity. Increased liquefied natural gas (LNG) imports reduced Russian leverage over European gas supplies. Rapid EU joint emergency measures addressed the need to save gas, fill gas storages, jointly purchase gas, strengthen solidarity rules for gas emergencies, lower electricity and gas prices and mitigate the impact of high prices on consumers. Gas prices remained very high until the end of 2022, after which they gradually decreased to more manageable levels due to regulatory actions, reduced demand and improvements in other market fundamentals.

Nevertheless, the case for a transition towards a decarbonised European energy system, one less dependent on energy imports, has never been stronger or clearer. A successful energy transition, increasing renewable energy production and energy efficiency would not only reduce carbon emissions, but also protect European households and businesses against price volatility, reduce our dependence on imported and expensive fossil fuels and strengthen Europe’s strategic autonomy. Energy should remain affordable for households and businesses, with regulatory conditions enabling investments in the technologies needed for further decarbonisation.

This report aims to provide comprehensive information to understand the development of energy prices and costs in the EU from 2010 to 2022 and, where data are available, up to mid‑2023 1 . It analyses energy price trends for electricity, natural gas and petroleum products, looking in detail at their market and regulatory drivers and providing international comparisons. It also assesses the importance and impact of energy costs for European businesses and households. It analyses the development of the EU’s energy import bill, the energy cost shares for selected industrial sectors and the impact of energy expenditure on households’ budgets. It also looks at the importance of energy taxes as a source of government revenue.

As in previous editions 2 , the report relies on data and analyses from an in-depth study 3 and the European Commission’s own work. Public statistical sources were privileged in the report, complemented by a series of specific data collections. Following Brexit, the report focuses on the EU27.