The energy cost gap between Europe and its top trading partners is widening, according to an official paper to be released by Brussels that shows industrial electricity prices in the region are more than double those in the US and 20 per cent higher than China’s.
Industrial gas prices are three to four times higher in the EU than comparable US and Russian prices and 12 per cent higher than in China, says the European Commission paper, the most comprehensive official analysis of EU energy prices and costs.
“While Europe has never been a cheap energy location, in recent years the energy price gap between the EU and major economic partners has further increased,” says the paper, a draft of which has been seen by the Financial Times.
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