Gas and electricity market reports
Energy prices have a significant impact on household expenditures, industrial costs and business competitiveness. In a liberalised market, monitoring market prices has become increasingly important for analysts, policymakers and businesses alike.
The EU quarterly gas and electricity market reports analyse market data in detail to examine trends and challenges. The reports explore the main factors behind price and volume variations and the interaction between market actors.
Every 2 years, a report on energy prices and costs in Europe is published, taking stock of the recent trends for gas, electricity and oil prices, as well as other energy costs.
Gas market - recent developments
The gas market report highlights the stabilisation of structural changes regarding lower gas demand, higher LNG imports and further progress in the diversification of EU gas supply away from Russia. At the same time, the rise in gas prices has stopped and the second quarter of 2025 witnessed the start of a new price decline trend buttressed by more ample global LNG supply, demand reduction, a stronger liquid and interconnected EU gas market, coupled with the continued expansion of renewable supply replacing fossil fuels, including natural gas.
The share of LNG in overall EU gas supply further increased to 46%. Pipeline gas supply from Russia halved year-on-year and decreased by 15% compared to the previous quarter. Russian LNG imports also declined. The share of U.S. LNG increased to 58% from 44% in the same quarter of the previous year, a 14 percentage point increase year-on-year. The U.S. has become the second largest EU gas supplier with 27%, next to Norway, which kept its number one position by 30%.
Russia’s share in overall EU gas supplied declined to 12% by 6 percentage points year-on-year. Wholesale prices decreased by 24% and retail prices by 2% quarter-on-quarter. Year-on-year, wholesale and retail prices were still moderately higher, by 10% and 9%, respectively, as the start of the new declining trend has not yet fully offset prices increases in the previous 4 quarters.
EU gas consumption was 60 bcm, a small decrease of 2% (-1 bcm) compared to the same quarter in the previous year (61 bcm) indicating the stabilisation of EU gas demand at a lower level than the historic average before 2022. Quarter-on-quarter, consumption contracted by 50% (-59 bcm) reflecting the end of the heating season and increased renewable energy production.
- EU gas imports amounted to 75 bcm, a 9% increase quarter-on-quarter and an 8% increase year-on- year. Pipeline gas constituted 54% of imports (41 bcm), while the share of LNG was 46% (34 bcm). Norway remained the EU’s biggest gas supplier (30%, 22 bcm), closely followed by the U.S. (27%, 20 bcm), North Africa (13 %, 9.8 bcm), Russia (12%, 9 bcm), Azerbaijan (5%, 2.8 bcm) and Qatar (4%, 2.7 bcm)
- EU pipelines imports were 41 bcm, an 8% increase quarter-on-quarter and a decrease of 9% compared to the previous year. The year-on-year decrease reflected the halt of Russian pipeline imports via Ukraine combined with a year-on-year reduction in imports from North-Africa. Norway provided over half of EU’s pipeline imports (54%, 22 bcm), followed by North-Africa (19%, 7.7 bcm), Russia (10%, 3.9 bcm), Azerbaijan (8%, 2.8 bcm), with the UK balancing the rest (10%, 4.2 bcm)
- EU LNG imports were 35 bcm, an increase of 11% compared to the previous quarter and 37% increase year-on-year reflecting the replacement of Russian pipeline gas by LNG to a large degree. The United States supplied 58% of EU LNG (20.3 bcm), followed by Russia (14%, 4.9 bcm) and Qatar (8%, 2.7 bcm). The 3 largest EU LNG importers in this quarter were France (21%, 7 bcm), the Netherlands and Spain (both 16%, 6 bcm)
- European wholesale prices averaged 35 €/MWh in the second quarter of 2025, a significant decrease of 24% compared to the previous quarter and a 10% increase year-on-year. The upward price movement (observed since the beginning of 2024) stopped and reversed driven the gradual ramp-up of global LNG supply, less demand and milder weather with the start of the summer. The monthly average prices moved around 35 €/MWh in April and May and around 36 €/MWh in June 2025
- The spread between the Asian JKM and the European (Dutch) TTF benchmarks displayed a price premium for Asian LNG in Q2 of 2025. On average, Asian price premium was 0.4 €/MWh in April, 1.3€/MWh in May and 2.3 €/MWh in June 2025
- Retail gas prices decreased by 2% compared to the previous quarter and increased by 9% year-on-year. The EU quarterly average retail price was 110 €/MWh. The rising trend observed in the last 3 quarters halted and retail prices steadily decreased in Q2-2025 from April (111.4 €/MWh) through May (109.1€/MWh) and June (108.7€/MWh) 2025
EU quarterly gas market reports
The older reports (2008-2023) are available in a dedicated CIRCA BC
Electricity market - recent developments
The electricity market report confirms that solar generation rose to a new record high for a second quarter, reaching 98 TWh (+20%). However, hydropower experienced a significant decline (-17%) albeit from exceptionally high levels in the previous year. Wind onshore rose slightly (+3%) but this was balanced out by a decrease in wind offshore (-6%). Nuclear generation declined slightly as well (-2%). The share of renewables stayed stable at 52% in Q2 2025 (same as in Q2 2024), while the share of fossil fuels rose very slightly to 25% (from 24% in Q2 2024).
This, together with higher wholesale gas prices, led to a slight increase in electricity prices compared to the previous year. However, prices were much lower than in the first quarter of the year largely due to a relative decline in gas prices, indicating a positive trajectory for the upcoming months.
Electricity consumption in the EU stayed flat (+0.4%) compared with Q2 2024. At national level, 17 EU countries, saw an increase in electricity consumption, while the remaining countries were stagnant or experienced a decline. Demand levels for Q2 2025 were still below the pre-crisis average (-6%, compared to the 2015-2019 range).
Retail electricity prices for households in EU capital cities rose marginally by 3% in Q2 2025 (to 246 €/MWh). This is despite the energy component decreasing compared to last year’s quarter as both taxes and network costs increased. Additionally, there was significant variation between EU countries with several seeing double-digit percentage increases (e.g. Austria, Luxembourg, Poland) and others seeing large decreases in retail prices due to lower energy costs (e.g. Slovenia, Estonia, France).
Finally, with over 720 000 new electric vehicles sold in Q2 2025, the quarter set an all-time record for sales of EVs in the passenger car segment in the with over 720 000 new EVs were sold in Q2 2025 in the passenger car segment in the EU - a yearly increase of almost 30% compared with Q2 2024. This translates into a 23% EV share in the EU passenger car market, more than two times the market share registered in the United States (10%). Sweden (62%), as well as Denmark (60%), Finland (54%) and the Netherlands (52%) were among the markets where more than half of all passenger cars sold were Battery electric or Plug-in hybrid vehicles.
EU quarterly electricity market reports
The older reports (2008-2023) are available in a dedicated CIRCA BC.
Energy data centre
Consistent and accurate data is very important for a reliable analysis that can be used to develop energy policies or investment planning.
For data and analysis, the Directorate-General for Energy relies on the Market Observatory for Energy, which maintains and operates the Energy market observation system (EMOS), a database of information collected from a wide range of private and public entities.