Britain has second cheapest gas in EU

Updated: 

Did you know British consumers enjoyed the second-lowest gas prices in Europe? At least they did for the second part of 2010, according to new figures from Eurostat. It claims UK consumers enjoyed lower price per gigajoule - an average 11.58p compared to an EU average of 15.88p. Believable?


Taxing concern

Considerably less affluent Bulgarians, Eurostat claims, were forking out an average 26.92p per gigajoule while Hungarians (25.11p) and Slovenians (22.82p) also were paying through the nose - according to Eurostat.

However statistics can be misleading and most European states still apply widely differing taxation and VAT rates to their domestic prices.

European consumers are also on the rack for another reason: competition, or rather its lack. Look at how French energy giant GDF Suez, for example, has consolidated itself.

A monster of a company (it bought British International Power) last year and is present right down the energy chain - production, exploration and environmental services.

Believable?

The Eurostat data also doesn't take into account currency fluctuations or the varying unit prices charged by different companies. So it's not quite as simple as it seems.

You can read the full report here. Not surprisingly, nuclear-reliant France has the lowest electricity prices, according to Eurostat (along with Finland, surprisingly, and troubled Greece). Figures to be taken with some caution.

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