European companies pay four to five times more for energy than their international competitors, according to the Draghi report.

Omissions

• The 'four to five times' multiple refers specifically to natural gas prices; for electricity the report states EU companies pay 2-3 times US prices. The MEP generalised the gas-specific figure to 'energy' as a whole.
• The claim attributes the figure to the Draghi report without noting the report distinguishes between electricity (2-3x) and natural gas (4-5x).
• No source with a data period later than the September 2024 Draghi report was found; the underlying figure remains that of the report.

Sources

• PrimaryEuropean Commission — 'The Draghi report on EU competitiveness'Official European Commission page hosting Mario Draghi's report 'The future of European competitiveness', published 9 September 2024, which lays out recommendations on how Europe can boost its economic growth.
• SecondaryPolitico Europe — 'Despite Draghi, Europe's energy price crisis has gone nowhere'In his report last September, Draghi wrote that "EU companies still face electricity prices that are 2-3 times those in the US. Natural gas prices paid are 4-5 times higher. This price gap is primarily driven by Europe's lack of natural resources, but also by fundamental issues with our common energy market."
• SecondaryNew Energy World (Energy Institute) — 'The future of European competitiveness and the energy transition'Even though energy prices have fallen considerably from their peaks, EU companies still face electricity prices that are 2-3 times those in the US, and natural gas prices paid are 4-5 times higher.
• SecondaryEcommerce Europe — 'Mario Draghi's report on the future of European Competitiveness'The report highlights how EU companies still face electricity prices that are 2 to 3 times higher than in the US and natural gas prices that are 4 to 5 times higher.