European electricity prices reach new high

• 15 years ago (2010-10-08)
• Junior Isles

Europe 1175 North America 1084

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Electricity prices in Europe reached a new high in September, rising for the fourth consecutive month, according to Austrian energy regulator E-Control.

E-Control said the increasing price reflected the confidence in the market, as well as the impact of increased oil prices and seasonal pattern of consumption in summer and winter.

Electricity in Copenhagen, Denmark, was still by far the most expensive, as prices reached 28.93 cents/kWh (about 40.26 US cents). Vienna ranked fourth with 19.47 cents/kWh, while Athens, Greece had the cheapest price of 11.64 cents/kWh. The prices are inclusive of energy costs, network fees and taxes.

Meanwhile, gas prices in September in Europe were at the level of April 2009, also rising for the sixth consecutive month.