European Union industrial companies face energy prices that can be two or three times higher than those of international peers.

Omissions

• The multiplier depends heavily on the energy carrier: for electricity the gap is roughly 2-2.7x, whereas for natural gas EU wholesale prices have been around 4-5x US levels (Bruegel: 'nearly five times those in the US' in 2024; 345% higher in 2023), so the 'two or three times' figure understates the gas gap and slightly overstates the electricity gap vis-à-vis China (IEA: EU energy-intensive industry electricity prices were 'nearly 50% above those in China' in 2025).
• The comparison is to spot/wholesale or average industrial prices before national subsidies, tax rebates and long-term contracts, which reduce the effective price paid by some EU industrial consumers.
• Prices have moderated from the 2022 peak: the Commission's 2025 Report on energy prices and costs notes that industrial gas and electricity prices, while still high, are lower than during the crisis.

Sources

• PrimaryInternational Energy Agency — Electricity 2026, 'Prices' chapter"EU electricity prices for energy-intensive industries stayed elevated in 2025, again averaging over twice US levels and nearly 50% above those ..."
• SecondaryBruegel policy brief — Decarbonising competitiveness: four ways to reduce European energy prices"In 2023, industrial electricity and gas prices in the European Union were 158 percent and 345 percent higher than in the United States..." / "In 2024, EU gas wholesale prices were on average nearly five times those in the US. Average EU industrial electricity prices were roughly two ..."
• SecondaryBusinessEurope — High cost of energy (data hub)"In 2024, industrial electricity prices in the EU reached €0.199 per kWh, compared to €0.082 in China and €0.075 in the U.S. This stark price disparity directly impacts the EU's industrial competitiveness."