INTRODUCING THE HOUSEHOLD ENERGY PRICE INDEX
The most up-to-date picture of European household electricity and gas prices: VaasaETT and two leading European energy market authorities collaborate to track monthly energy prices in 29 European countries.
To correct for a persistent lack of current, frequently updated and methodologically reliable information on household prices for both electricity and gas at the European level, the Austrian energy regulator (Energie Control Austria) and the Hungarian Energy and Public Utility Regulatory Authority (MEKH) have commissioned VaasaETT to compile and publish electricity and gas price-rankings in 29 European capital cities on a monthly basis starting from January 2009 with the EU15 countries and gradually expanded to the rest of the EU and Serbia. This study is known under the name “Household Energy Price Index (HEPI).
After close to seven years of existence, HEPI has reached a very wide audience. Illustrating its value to numerous stakeholders, about 190 organisations worldwide subscribed to receive the free monthly update, ranging from regulatory and government bodies, utilities, IT companies, research centres, consultancies, journalists and others from Europe, but also from Australia, the Americas and the Middle East. Our study is also meeting some of its primary goals, which is to enable and promote price transparency and enhance price comparability at the European level. Finally, HEPI has increasingly been used by national regulatory agencies (NRA), journalists and consumer groups to compare and discuss energy prices in their respective countries or at the European level. HEPI has for instance recently been used extensively by ACER and the CEER in their first annual Monitoring Report and is used regularly by the DG Energy at the European Commission for their quarterly reports on energy markets.
The HEPI methodology was developed, tested and improved over several months. The details as well as the background data was shared with every national regulator in the countries covered before the “go-live” of the study and their comments taken into account to ensure wild acceptance of the publications.