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Tom Howes, DG Energy European Commission Energy prices and the EU response
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What was driving electricity prices 2008-2012? Source: Eurostat. Includes taxes in the case of households; excludes VAT and other recoverable taxes in the case of industry but other industry exemptions are not included (not available). 18.5% 30% 127% 36% 7.5% -3% 17% 18% 2014 report …EU… 2
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EU electricity and gas prices compared with major trading partners Electricity end-use prices for industry, 2012 Gas end-use prices for industry, 2012 Sources and notes: see p. 177 and 179 of SWD (2014) 20..international.. 2014 report 3
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2014 June Energy Council: Member States requested follow-up report by 2016 Confirmed in Commission's 2015 Energy Union Strategy: Biennial reports Initiative status: report to be adopted in 2Q 2016 Discussions with Eurostat, Eurelectric, others on data issues (details, quality, sources…) -> Commission (Eurostat) legislative proposal under discussion Ad hoc data gathering exercise with Member States Sluggish economic growth/subdued demand; increased supplies (oil, gas, LNG; lower commodity prices generally) Update…..since January 2014.. 4
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International comparison of wholesale prices: EU versus US, Japan and Australia 6
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ENERGY IMPORT BILL 7
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2 nd report on energy prices & costs Study started in October 2015 +econometric analysis of drivers detail on price components Electricity, gas petroleum products included more detail on sectors and households; EU & international coverage Other Commission work under way (esp. on energy intensive industries, with further work by DGs CLIMA and GROW) Feedback from stakeholders: Industry Conference, contacts with institutional actors (Jan/Feb/March) Final report of study (end of March) Commission internal work on documents April-May Adoption Summer 2016 NEXT STEPS 8
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9 Sub-components Different industry consumption bands
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10 Close up look at energy intensive industries
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