London topped the list of highest residential electricity prices in Europe last month, according to the latest Household Energy Price Index.
London residents paid €64.21 cents (£55.74 pence) per kilowatt-hours (KWh) of electricity in August, the highest among European households.
To combat rising prices, UK Prime Minister Liz Truss announced the introduction of a price cap on energy bills for all households for two years. A typical household energy bill will now be capped at £2,500 annually until 2024.
Among the highest paying residential consumers, Copenhagen ranked second at €54.52 cents per KWh, followed by Rome at €54.41 cents.
Amsterdam ranked fourth among cities with the highest residential electricity prices at €51.10 cents. Households in Brussels paid €50.71 cents and Berlin residents paid €44.56 cents for electricity last month.
On the lower end of the scale, the electricity price per KWh was €29.19 cents in Athens, €25.52 cents in Lisbon, €25.01 cents in Paris and €18.69 cents in Warsaw.
The capitals with the lowest residential electricity prices were Zagreb with €14.81 cents, Budapest with €9.36 cents and Belgrade with €8.11 cents.
Ankara ranked first on the list of capitals consuming the cheapest electricity at €7 cents per KWh for residential consumers.
- Athens sees highest rise in electricity prices
Last month, prices in Athens experienced the largest rise at 34% due to increases in energy and energy taxes components.
Similarly, prices in Brussels rose by 26% in August and 22% in Amsterdam compared to July.
'Prices remain significantly higher compared to the ones a year ago, which can be attributed to a combination of factors, such as increased demand connected to post-pandemic economic recovery and extraordinary weather conditions, the record-high prices for natural gas, uncertainty over energy security and the recent reduced deliveries of Russian natural gas or complete termination of supply in multiple European capitals,' the index said.
Due to the rise in power prices, Europe's transmission system operators and electricity exchanges have sent a letter to the EU calling for the bloc to change the mechanism in raising the electricity market price ceiling.
The EU agency for the cooperation of energy regulators is expected to review the mechanism after the price ceiling rose already twice this year.
Meanwhile, the index explained that a few capitals saw a decrease in electricity prices 'mainly due to the extensive measures that have been applied by the European governments to mitigate the impact of the energy crisis on household bills.'
Electricity prices fell in Lisbon, Paris, Warsaw and Budapest in August compared to the previous month.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr