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Economics
Inflation & Prices

European Energy Bills Hit Record Despite Government Support

  • Retail natural gas costs are now double levels in October 2021
  • Governments have pledged billions to mitigate energy crisis

European households are paying more than ever for their electricity and natural gas, even as governments spend billions to shield consumers from the energy crisis.

The average retail gas price across the European Union and Britain was almost 18 euro cents ($0.18) per kilowatt-hour in October, double what it was in the same month last year, according to energy consultancy VaasaETT Ltd. Household electricity costs have soared 67% to 36 euro cents per kilowatt-hour.