Electricity prices in the European Union are 2.5 times higher and gas prices five times higher than in the United States.
55% confidence
EconomyEuropean Union
Omissions
The claim gives single headline ratios that hide very large variation: within the EU some Nordic electricity prices have been consistently LOWER than some main US markets (Eurelectric notes Norway, Sweden and Denmark were below PJM prices between 2020 and 2024), so 'the EU' as a single bloc is a simplification.
The ratios depend critically on the metric chosen: retail household prices, industrial prices and wholesale prices give different multiples, and the gas ratio typically refers to wholesale hub prices (TTF vs Henry Hub), which peaked after 2022 and have since narrowed.
No retrieved source contains the exact 'five times' gas figure; the sources found only directly support the electricity multiple (2-4x, or 2.6x for Germany residential).
The sources retrieved are think-tank, industry-association or data-aggregator material rather than primary official statistics (Eurostat/IEA/EC); no primary official source quantifying the gas ratio was obtained.
Sources
SecondaryEurelectric — US vs EU: the ultimate power prices showdownBetween 2020 and 2024, average electricity prices in Norway, Sweden and Denmark were consistently lower than some of the main markets in the US - such as Pennsylvania-New Jersey-Maryland (PJM) - thanks to abundant hydropower resources within an open and unregulated market.
TertiaryInstitute for Energy Research — Europe's Electricity Prices Are Far Higher than Prices in the United StatesEurope's electricity prices are two to four times higher than those of the United States, with the U.K.'s industrial electricity price — the highest in Europe — 4.2 times higher than the U.S. industrial electricity price and Germany's residential electricity price — also the highest in Europe — 2.6 times the U.S. residential electricity price.
TertiaryEnergy Factbook — Electricity Prices by CountryHousehold electricity prices, July-December 2025: Ireland Highest at 47.1¢/kWh, U.S. 17.7¢/kWh (implying Ireland, the most expensive EU market, is about 2.7 times the US household price).