FACT CHECK
We’ve seen a number of tweets and Facebook posts giving figures for the “average energy costs” in different countries across Europe, which suggest the UK’s energy costs are the highest by far at £2,585 (around €2,960). This claim was also retweeted by Labour MP Karl Turner.
But these prices aren’t “average energy costs” for consumers in those countries. They are wholesale electricity costs for suppliers which were correct for a specific hour on one day back in December.
A map of Europe with the same figures was tweeted on 15 December 2022, with the caption “Comparative energy prices. What's going on?”
The map pictured was clearly taken from the day-ahead market data published on the website of Epox Spot (also known as the European Power Exchange), which is used by around 300 companies across Europe to buy and sell electricity at short notice to meet demand.
A spokesperson for Epox Spot told us that the data corresponded to day-ahead prices per megawatt hour (MWh) of electricity, for delivery on 12 December 2022, specifically for hour 19 (between 6pm and 7pm), and gave us the data that appears to back this up.
These prices are not what consumers pay for energy, or any type of average. They are how much electricity cost companies in those countries for delivery in the 19th hour on 12 December. These hourly prices vary throughout the day, and the £2,585 used for Great Britain was the peak. On average, electricity on that day cost £675 per MWh.
The Household Energy Price Index, which measures consumer energy prices in the capital cities of 33 European countries showed that in January 2023, out of the countries in the post, electricity cost the most in Germany at 54c per kilowatt hour, followed by Denmark, where it was 53c. In the UK it was 47c (42p) while the European average was 29c.
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