2016 Energy Prices and Costs report. Commission HLG on Energy Intensive Industries Mechthild Wörsdörfer, Director, DG Energy - PDF

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2016 Energy Prices and Costs report Commission HLG on Energy Intensive Industries Mechthild Wörsdörfer, Director, DG Energy The 2016 report Some important features Recent data on gas, electricity, oil

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2016 Energy Prices and Costs report Commission HLG on Energy Intensive Industries Mechthild Wörsdörfer, Director, DG Energy The 2016 report Some important features Recent data on gas, electricity, oil (petroleum products) wholesale and retail prices for (disaggregated) industry and household consumers Taxes and Levies divided into 10 sub-components and Network tariffs divided into 2 sub-components Where do we focus in this presentation? Industry prices in the EU Energy costs in the EU and for industry International comparisons International wholesale electricity prices Prices are low and falling 200 /MWh 180 /MWh EU: lower than Japan; reduced differences with US 160 /MWh 140 /MWh 120 /MWh 100 /MWh 80 /MWh 60 /MWh 40 /MWh 20 /MWh 0 /MWh Japan Platts PEP US price Australia USD/mmbtu 25 International wholesale gas prices Gas prices are also falling considerably EU: just above Japan; reduced differences with US Fukushima March US gas revolution Henry Hub (US) NBP (UK) Japanese landed price 4 Retail prices for industry in the EU Electricity prices have increased but the trend could be changing Gas prices were stable and even decreased IT UK MT DE CY IE LV EU SK PT LT BE ES EL DK FR AT HU NL HR PL EE RO CZ SI FI BG LU SE Electricity Prices for Industrial Consumers EUR/Mwh Weighted EU average price increased Increases driven by network tariffs and taxes and levies. Taxes & Levies Network Energy Prices were 13% less dispersed in 2015 than in i.e. some market integration /mwh Taxes & Levies Network Energy Gas Prices for large industrial consumers /mwh Weighted EU average price decreased by 4% Taxes & Levies Network Energy Prices driven by decreasing energy component Price dispersion decreased by a further decrease 17% /mwh EU avg.: 36.5 /mwh FI SE AT PT EE LT HU SK DE DK ES IT NL BG EU CZ UK PL FR RO BE Taxes & Levies Network Energy Differences in electricity prices for industry (IB = small consumers IF = large consumers) Significant price differences between small and large industrial consumers, driven mostly through lower network costs and tax/levy exemptions Differences vary widely across Member States (e.g. 85 /MWh or 45% of the price in Italy; 30 /MWh or 42% in Sweden; 120 /MWh or 70 % of the price in Greece) Rising Taxes and Levies (T&L) in industrial prices for electricity Price components, including T&L breakdown Large consumers (IF Band) Small consumers (IB Band) EU average industry prices lower than Japan's, on a par or lower than China's; higher than those of the US or Russia Electricity Gas Energy costs in the economy: 2% for EU businesses on average Energy costs in energy intensive industries: Much more significant special case Energy costs shares of selected Energy Intensive sectors Source: Ecofys study 2016, Eurostat Comparing energy costs* with trading partners in selected industries: EU higher than JP, but lower than US * Energy used in transformation process only (excluding feedstock), Eurostat Comparing (all) energy costs with trading partners in selected industries II: in other industries, EU costs higher than US & Russia, but lower than Japan and China Iron & Steel Aluminium Source: JRC Report Production costs from energy-intensive industries in the EU and third countries, 2016 Summary of Messages Wholesale prices low and falling o Commodity prices falling o Low energy demand (slow economic recovery) Retail prices o Energy component falling o Rising Taxes and Levies for fiscal and policy reasons o Rising Network Costs o But total retail prices slowing down o EU retail prices higher than US, lower than most of Asia Energy costs (Energy Intensive Industries) o Energy costs are falling o Energy costs can matter for competitiveness but other costs too o EU industry relatively energy efficient o Energy costs lower than US and higher than Japan Building the Energy Union will keep energy prices and costs in check: 2016 is a year of delivery. o Security of supply package (February 2016) o Key upcoming initiatives expected in 2016 Thank you
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