Household gas prices rose across EU capitals between early February and early April, reflecting the impact of Middle East tensions. However, electricity prices fell on average, highlighting diverging trends in Europe’s energy markets.
Fuel prices surged following the recent Middle East crisis. Petrol and diesel consumer prices rose significantly in several European countries on average.
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However, this is not the case for household electricity prices, while natural gas prices saw modest increases compared to fuel.
“The ongoing geopolitical tension in the Middle East fundamentally constitutes a fuel supply shock. As a result, the direct impact on European gas supply, and consequently on retail gas prices, is more pronounced compared to the electricity markets,” Ioannis Korras**,** a senior energy market analyst at VaasaETT, told Euronews Business.
So, how did household energy prices change after the joint US-Israel attack on Iran in late February and Tehran's responses? Which countries saw the highest household electricity and gas price rises across European capital cities?
According to the Household Energy Price Index (HEPI), which is compiled by Energie-Control Austria, MEKH and VaasaETT, residential end-user electricity prices declined by 3.1% in EU capitals on average between 2 February 2026 and 1 April 2026.
It fell from 26.13€ cents per kWh to 25.31 c€/kWh over this period.
Estonian capital Tallinn saw the highest decline at 19%, followed by Copenhagen (15.9%), Stockholm (15.2%) and Ljubljana (15%).
Helsinki (11.9%), Riga (11.6%) and Madrid (10.9%) also saw declines of over 10%.
Korras noted that spring typically represents a transitional period characterised by increasing renewable generation and relatively moderate demand, following the winter heating season and preceding the summer cooling demand peaks.
“This seasonal dynamic allows markets such as the Nordics and Iberia to benefit from price reductions, effectively demonstrating a degree of decoupling from fuel-driven price pressures,” he said.
There are cases such as Spain, Great Britain and Cyprus, where government interventions have mitigated the impact on households through fiscal measures, including energy tax or VAT reductions.
Rome recorded the largest increase at 7.9%. The rise was also more than 3% in Dublin (5.7%), Lisbon (5.4%) and Athens (3.3%).
Household electricity prices remained unchanged or saw very slight changes in several European capitals.
Korrasemphasized thatmarkets with a higher share of gas-fired generation, particularly those where gas frequently sets the marginal electricity price (e.g. Italy, Ireland and Greece), tend to experience stronger increases in wholesale electricity prices and subsequently in end-user bills.
Change in gas prices
Residential end-user gas prices rose by 6.8% in EU capitals over this period, from 10.67 c€/kWh to 11.40 c€/kWh.
Except for a few cities, residential end-user gas prices saw significant increases. Brussels (28.8%), Berlin (28.6%) and Athens (21.3%) recorded surges of over 20%.
The increase also exceeded 10% in Vienna (16.9%), Amsterdam (14.8%) and Rome (10.9%).
Gas price increases were also notable in Bucharest (8.9%), Riga (8.7%), London (8.6%), Paris (7.9%) and Tallinn (7.2%), all above the EU average.
In contrast, Madrid saw the largest decline at 7.9%, followed by Ljubljana (4%) and Warsaw (3.5%).
“The divergence between electricity and gas price movements in April highlights a notable ‘structural decoupling’ across European markets, driven by differences in fuel mix and government intervention,” Korras said.
“While gas prices were mainly driven by global supply constraints and geopolitical risk, electricity markets were also influenced by local generation trends and policies.”
Who pays the most for energy after the Iran crisis?
As of early April, household electricity prices vary widely across European capital cities. Households in Bern (c€39.1), Brussels (c€39), Dublin (c€38.5), Berlin (c€38.4), Prague (c€36.3) and London (c€35.8) pay the most per kWh in nominal terms.
The EU capitals average stands at c€25.3. Kyiv (c€8.5), Budapest (c€9.6), Podgorica (c€11.3) and Belgrade (c€11.6) offer the cheapest electricity for households.
In Paris it is c€27.2, while it is c€21.9 in Madrid.
The difference in gas prices is also striking in nominal terms across capital cities. It ranges from c€1.6 in Kyiv to c€35.8 in Stockholm, while the EU average stands at c€11.4.
Amsterdam (c€20.3), Bern (c€15.7), Vienna (c€15.1), Rome (c€14.9) and Lisbon (c€14.1) follow the Swedish capital at the top.
After Kyiv, Budapest (c€2.7), Belgrade (c€4.6) and Zagreb (c€4.6) offer the cheapest gas for residents.
In addition to Rome, Paris (c€13.8) and Berlin (c€13.2) are above the EU average, while London (c€8.7) and Madrid (c€8.6) are below.
The share of taxes and delivery costs varies significantly by country, which governments may change depending on circumstances.
