Gas & electricity prices on the rise, energy market report says.

The Agency for the Cooperation of Energy Regulators (ACER) and the Council of European Energy Regulators (CEER) published their second monitoring report on the functioning of Europe’s electricity and gas markets. One of the report’s main focus is on retail markets and consumer issues. It urges full transposition and implementation of the 3rd Energy Package with a special focus on the implementation of consumer provisions.

Analysing price developments in 2012 the report shows that despite low economic growth, gas and electricity prices rose significantly for both households and industrial consumers in the majority of EU Member States. On average, post-tax electricity prices increased by 4.6% and post-tax gas prices by 10% for households between 2011 and 2012.

The report’s findings show that only a few markets have a healthy number of providers. This is in accordance with BEUC’s observations that the liberalisation of EU’s energy markets has not led to more competition impeding downward pressure on prices or wooing of consumers through better service.