Where in Europe will gas and electricity be the most expensive in 2026?

Ahead of the 2026–2027 heating season, the cost of gas and electricity in European capitals varies significantly. In Brussels, electricity is nearly five times more expensive than in Kyiv, while Stockholm tops the list of cities with the highest natural gas rates. According to the Household Energy Price Index (HEPI) study, energy prices rose in many countries from February through September. We’ll explain where utility bills are the highest, which cities remain the most affordable, and what to expect this coming winter.

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How did gas and electricity prices change in Europe in 2026?

From February to September 2026, the average cost of natural gas for households in EU capitals rose by 12%, while the cost of electricity increased by 4.2%. These figures come from the Household Energy Price Index (HEPI), which tracks retail energy prices in European capitals on a monthly basis.

One of the factors behind the price increases was instability in the international energy market, particularly the rise in wholesale gas prices amid the conflict in the Middle East. At the same time, the changes were uneven: in some cities, rates rose significantly, while in others they remained stable or even fell.

Several factors explain this difference: the structure of energy supply, dependence on imported gas, taxes, network fees, and government regulation. The type of contracts with suppliers also plays a role. Under fixed-rate plans, consumers may not feel the effects of changes in wholesale prices until much later.

The HEPI study takes into account final prices for consumers, including taxes and fees. Therefore, its results allow for a comparison of the rates applied to households in different capitals. However, they do not reflect actual monthly bills, as those depend on consumption levels.

Where in Europe is electricity the most expensive and the cheapest?

In September 2026, the most expensive electricity among the European capitals surveyed was recorded in Brussels—41.3 eurocents per kWh. Second place went to Berlin (39.6 eurocents), and third to Dublin (38.7 eurocents). The top five also included Bern (38.6) and London (38.3).

Among other popular European capitals, rates were as follows:

- Rome, Italy – 36.6 eurocents/kWh

- Vienna, Austria – 34.4 eurocents/kWh

- Prague, Czech Republic – 34.3 eurocents/kWh

- Warsaw, Poland – 29.0 eurocents/kWh

- Amsterdam, Netherlands – 28.9 eurocents/kWh

- Madrid, Spain – 28.3 euro cents/kWh

- Paris, France – 28.1 euro cents/kWh

The average for the capitals of the 27 EU countries was 27.2 euro cents/kWh

Electricity was cheapest in Kyiv—just 8.4 eurocents/kWh. Next were Budapest (10.3), Podgorica (11.3), Belgrade (11.6), and Valletta (12.3). Thus, based on these rates, the same amount of electricity in Brussels costs nearly five times more than in Kyiv.

Electricity prices for households in European capitals in September 2026, euro cents/kWh. Source: Euronews.

At the same time, the nominal price does not always reflect the affordability of electricity for local residents. When purchasing power parity (PPS)—which shows the cost of energy relative to a country’s price level—is taken into account, the cities’ rankings change. Therefore, lower rates do not necessarily mean a smaller financial burden on households.

Which European cities have the most expensive and cheapest gas?

The highest natural gas prices among the European capitals surveyed were recorded in Stockholm—34.8 eurocents per kWh. This is nearly three times higher than the average for EU capitals, which stands at 11.9 eurocents. Amsterdam came in second with a rate of 21.2 eurocents/kWh.

Among Europe’s five largest economies, residential gas rates were distributed as follows:

- Paris, France – 15.7 eurocents/kWh

- Rome, Italy – 15.2 euro cents/kWh

- Berlin, Germany – 12.5 euro cents/kWh

- London, United Kingdom – 10.3 euro cents/kWh

- Madrid, Spain – 10.1 eurocents/kWh

The cheapest natural gas among the cities surveyed is in Kyiv, where it costs only 1.5 eurocents/kWh. The difference compared to Stockholm is more than 23 times. At the same time, the low price in certain capitals may be due to government regulation and consumer support.

Natural gas prices for households in European capitals in September 2026, euro cents/kWh. Source: Euronews.

When adjusted for purchasing power parity (PPS), Stockholm remains the most expensive city for gas, while Budapest becomes the most affordable. The top five most expensive cities in PPS terms also include Lisbon, Amsterdam, Rome, and Sofia. Moreover, the Bulgarian capital has risen from 18th to 5th place compared to the ranking in euros.

Interestingly, high rates for one energy source do not necessarily go hand in hand with high prices for another. For example, Stockholm and Amsterdam have some of the highest gas rates but significantly more affordable electricity. The opposite is true in Brussels and London.

Where did gas and electricity prices rise the most in 2026?

From February to September 2026, electricity prices rose the most in Lisbon—by 22%. Significant price increases were also recorded in Amsterdam (+17.3%), Madrid (+15.1%), and Rome (+14.9%).

At the same time, electricity became cheaper in some European capitals. The largest price decreases occurred in Luxembourg (−15.3%), Tallinn (−7.9%), and Helsinki (−7.1%). This indicates significant differences in tariff trends even among countries within the same region.

Changes in household electricity prices in European capitals from February to September 2026, %. Source: Euronews.

Fluctuations in the natural gas market were even more pronounced. The absolute leader in terms of price increases was Tallinn, where the rate rose by 59.2%—from 7.8 to 12.4 eurocents per kWh.

Among other capitals, the largest increases in gas prices were recorded in:

- Brussels, Belgium – +37.9%

- Athens, Greece – +33.1%

- Bern, Switzerland – +30.2%

- London, United Kingdom – +28.2%

- Riga, Latvia – +23%

- Vienna, Austria – +22.8%

- Paris, France – +22.5%

- Berlin, Germany – +22%

The situation in Tallinn is particularly telling: over a single period, electricity prices there fell by nearly 8%, while natural gas prices rose by nearly 60%. Thus, overall trends in the energy market do not always affect different types of utilities in the same way.

How much does electricity cost per month in Europe?

The difference between European rates is clearly illustrated by comparing the same level of consumption. If a household uses 200 kWh of electricity per month, the cost of that amount in Brussels would be €82.60, in Berlin – €79.20, and in Kyiv – only €16.80.

Based on September 2026 rates, the costs in selected capitals will be as follows:

- Brussels, Belgium – €82.60

- Berlin, Germany – €79.20

- Rome, Italy – €73.20

- Vienna, Austria – €68.80

- Warsaw, Poland – €58.00

- Madrid, Spain – €56.60

- Paris, France – €56.20

- Kyiv, Ukraine – €16.80

Thus, with the same monthly consumption, the difference between Brussels and Kyiv amounts to €65.80, or nearly €790 per year.

This is a hypothetical calculation based on HEPI’s average retail rates for the respective capitals, not actual bills from specific households. Actual costs depend on consumption volume, the rate plan, the use of electric heating, and other factors. In particular, the use of electric heaters in winter can significantly increase consumption.

What to expect from gas and electricity prices in the winter of 2026–2027?

Europe is entering the heating season with lower natural gas reserves than last year. According to Gas Infrastructure Europe, as of October 1, 2026, EU gas storage facilities were only 72% full—approximately 11 percentage points less than a year earlier. This amounts to about 74 billion cubic meters of gas.

Disruptions in liquefied natural gas (LNG) supplies from the Middle East and competition between European and Asian buyers are putting additional pressure on the market. According to estimates by the IEEFA think tank, due to limited reserves, the EU may need to reduce gas consumption by 7% compared to last winter or make up for the shortfall with additional imports.

Future price trends will depend primarily on winter temperatures, LNG availability, and consumption levels. Prolonged cold spells could accelerate the drawdown of reserves and drive up wholesale prices. At the same time, price increases will not necessarily be immediately reflected in household bills, as some households are on fixed-rate plans.

According to the European Commission’s assessment, the EU’s gas infrastructure is capable of meeting demand throughout the winter thanks to diversified supplies and increased LNG import capacity. However, the risk of further price spikes remains, especially in the event of a prolonged cold snap.

Are you preparing for a trip abroad in 2026?

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We remind you! Renting a home in the EU varies greatly from country to country. Read more about where apartments are most affordable, where they’re hard to find, and what’s changing in 2026.