Energy security is commonly described across three dimensions: availability, affordability, and acceptability. Country-level industrial electricity prices offer one way to gauge the affordability dimension across Europe as a whole.
The chart tracks these prices across the region. After remaining relatively stable from 2007 through 2021, industrial electricity prices spiked in 2022 following Russia’s escalation of its war against Ukraine.
The impact was widespread, reaching both Western European economies such as France and Germany and Central European ones such as Romania and Poland. Overall, the surge has contributed to a recessionary trend across Europe.
From the EPRINC Chart of the Week archive.