In the first half of 2024, household electricity and natural gas prices in Bulgaria ranked among the lowest in the European Union, according to recent data from Eurostat. Overall, electricity prices for EU households showed a slight decline in the first quarter of 2024 compared to the same period in 2023, while Bulgarian households benefitted from notably low rates.

Electricity prices across Europe experienced a minor increase compared to the latter half of 2023, rising to 28.9 euros per 100 kilowatt-hours (kWh) from 28.3 euros per 100 kWh. In comparison, the average price for electricity in the EU in the first half of 2023 was 29.4 euros per 100 kWh. This uptick in prices can be attributed to various governments reducing subsidies, benefits, and tax incentives for consumers.

Among EU countries, Germany reported the highest electricity prices for households at 39.5 euros per 100 kWh, followed by Ireland at 37.4 euros and Denmark at 37.1 euros. In contrast, Bulgaria's household electricity prices were significantly lower at 11.9 euros per 100 kWh, placing it just above Hungary, which had the lowest price at 10.9 euros.

When examining the changes in household electricity prices over the year, 16 EU countries saw a decrease, while 11 experienced an increase. Alongside electricity, natural gas prices also demonstrated a downward trend. Eurostat's data indicated that, between the first half of 2023 and the first half of 2024, natural gas prices fell in 15 of the 24 EU countries that reported these prices.

Bulgaria's gas prices dropped by 34.6% during this timeframe, contributing to its position as one of the EU countries with the lowest natural gas costs. The most significant reductions in gas prices were observed in Lithuania, Greece, and Estonia, while Italy and France experienced notable increases in their household gas prices, rising by 16% and 13% respectively. For Bulgarian consumers, natural gas was only cheaper in Hungary, Croatia, Slovakia, and Romania, further highlighting the affordability of energy in Bulgaria.