Business Energy prices fell in the EU last year

The European Union has released figures showing energy prices fell across Europe last year.

The Eurostat data shows that in 27 European countries, gas prices fell by 16 per cent between the second half of 2008 and 2009, while electricity prices were down by 1.5 per cent.

Belgium experienced the largest fall (29 per cent), followed by Italy (26 per cent), Latvia and Slovenia (24 per cent) and Germany (23 per cent). 

The cheapest price for business gas in Europe was found in the UK, Luxembourg and Belgium. 

Average business electricity prices across EU member countries stood at 16.5 euros (£14) per 100 kWh, whilst the average gas price was 14.7 euros per gigajoule.

The fall in Business Electricity prices followed a rise in business electricity prices by 6.8 per cent in 2007 and 2008. Business Gas prices also rose by 21 per cent during the same period