VaasETT Global Energy Think-Tank Releases 3rd Edition of European Residential Energy Price Report
The VaasaETT Global Energy Think-Tank today released the third edition of the European Residential Energy Price Report. The report is based on findings from the renowned Household Energy Price Index (Europe's leading source for up-to-date household energy prices), published by the Austrian energy regulator Energie-Control Austria and the VaasaETT Global Energy Think-Tank.
London, United Kingdom, May 22, 2013 --(PR.com)-- For more information about the Household Energy Price Index project, or to request a free copy of the European Residential Energy Price Report 2013 please visit http://www.energypriceindex.com
Selected Key Findings:
-Residential energy prices on a continuous upward trend since the beginning of 2010
-Shocking differences in electricity and gas prices depending on where a customer lives in Europe
-At PPP, countries with comparatively low income have highest energy prices (Portugal, Greece, Spain) and spend a larger share of disposable income on energy
-Number of vulnerable or “fuel poor” households to increase in Europe
-EU-15 end-user electricity and gas prices increase faster than inflation
-Energy prices increase fastest in countries worst hit by economic crisis
-Market forces represent only half of the end-user price for both gas and electricity, whereas national fiscal and regulatory elements are responsible for the other half through distribution tariffs, energy taxes and VAT
-European customers miss out on savings opportunities
-European households could have saved 15% on their energy bills by switching supplier in 2012
-Changes in wholesale markets are a poor indicator of changes to come in electricity retail markets
About the Project
To correct for a persistent lack of current, frequently updated and methodologically reliable information on household prices for both electricity and gas at the European level, the Austrian energy regulator Energie Control Austria and VaasaETT started compiling and publishing the Household Energy Price Index (HEPI) as well as price-ranking in the EU-15 on a monthly basis in January 2009. The methodology is designed in such a way that "HEPI prices" reflect prices paid by typical residential customers and assess overall price developments in Europe.
Last year’s annual summary report was downloaded by close to 700 organisations and hence it was decided to publish a much awaited update. The European Residential Energy Price Report 2013 summarises their findings over the years, gives an overview of price developments in 2012 and gives an update on the “Savings Tracker” research project introduced in the previous edition. This year's report also looks at the issue of energy affordability for European households.
About VaasaETT
The VaasaETT Global Energy Think Tank® is a coordinator of expertise for the energy and utilities industry, comprising expert exploration, events and knowledge sharing, supervised by a senior independent advisory committee. Through the thousands of high and medium level executives, officials, researchers, consultants and other experts that we know and trust personally, the Global Energy Think Tank creates partnerships and consortiums for research, strategic advice, solutions and even independent lobbying support. Covering over 50 countries in four continents, our network covers a wide range of interest areas, from Demand Response and Smart Metering to Customer Switching, from Renewable Energy to Smart Grids, from Regulatory Efficiency to Competitive Pricing.
Selected Key Findings:
-Residential energy prices on a continuous upward trend since the beginning of 2010
-Shocking differences in electricity and gas prices depending on where a customer lives in Europe
-At PPP, countries with comparatively low income have highest energy prices (Portugal, Greece, Spain) and spend a larger share of disposable income on energy
-Number of vulnerable or “fuel poor” households to increase in Europe
-EU-15 end-user electricity and gas prices increase faster than inflation
-Energy prices increase fastest in countries worst hit by economic crisis
-Market forces represent only half of the end-user price for both gas and electricity, whereas national fiscal and regulatory elements are responsible for the other half through distribution tariffs, energy taxes and VAT
-European customers miss out on savings opportunities
-European households could have saved 15% on their energy bills by switching supplier in 2012
-Changes in wholesale markets are a poor indicator of changes to come in electricity retail markets
About the Project
To correct for a persistent lack of current, frequently updated and methodologically reliable information on household prices for both electricity and gas at the European level, the Austrian energy regulator Energie Control Austria and VaasaETT started compiling and publishing the Household Energy Price Index (HEPI) as well as price-ranking in the EU-15 on a monthly basis in January 2009. The methodology is designed in such a way that "HEPI prices" reflect prices paid by typical residential customers and assess overall price developments in Europe.
Last year’s annual summary report was downloaded by close to 700 organisations and hence it was decided to publish a much awaited update. The European Residential Energy Price Report 2013 summarises their findings over the years, gives an overview of price developments in 2012 and gives an update on the “Savings Tracker” research project introduced in the previous edition. This year's report also looks at the issue of energy affordability for European households.
About VaasaETT
The VaasaETT Global Energy Think Tank® is a coordinator of expertise for the energy and utilities industry, comprising expert exploration, events and knowledge sharing, supervised by a senior independent advisory committee. Through the thousands of high and medium level executives, officials, researchers, consultants and other experts that we know and trust personally, the Global Energy Think Tank creates partnerships and consortiums for research, strategic advice, solutions and even independent lobbying support. Covering over 50 countries in four continents, our network covers a wide range of interest areas, from Demand Response and Smart Metering to Customer Switching, from Renewable Energy to Smart Grids, from Regulatory Efficiency to Competitive Pricing.
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Emma Richards
07891 891880
http://www.smartenergyjournal.com/
Emma Richards
07891 891880
http://www.smartenergyjournal.com/
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