Market analysis

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.

EU gas consumption in 2025 reached 339 bcm, up 2% on 2024 (332 bcm). This was the second consecutive annual increase, reflecting a small rebound after the sudden steep decline in 2022-23 at the peak of the crisis. Nevertheless, consumption remained below the 2022 levels. EU’s gas production was 33 bcm in 2025, stable compared to 2023 (32 bcm). Domestic gas production covered 10% of domestic gas consumption in 2025.

In 2025, the average gas storage filling rate was 61% (62 bcm), 22% less than in 2024 (78%, 79 bcm) and 23% less (79%, 80 bcm) than in 2023, but same as in 2022 and below the filling rate in 2021.

Total EU gas imports amounted to 289 bcm, an increase of 5% compared to 2024 (273 bcm). Norway and the US make up broadly each one-third of the EU’s natural gas Imports with 89 bcm and 76 bcm, respectively. North-Africa 13%, and Russia made up each around 13% of EU gas imports of the EU’s total gas imports in 2025. In 2025, total Russian gas exports to the EU reduced by 31%, from 52 bcm to 36 bcm and Russia’s share in total EU gas import shrank from 19% to 13% compared to 2024.

While pipeline gas imports fell to 158 bcm in 2025 (−8% year-on-year), LNG imports rose further to 131 bcm, accounting for 45% of total EU gas imports, a 9 percentage points increase year-on-year, deepening the structural shift in the EU's gas supply mix.

Regasification (import) capacity in the EU expanded by 8% in 2025 relative to 2024, reflecting capacity additions in Poland, Germany, Italy and Belgium.

The EU was the world’s largest LNG importer (24%), followed by China (16%) Japan (15%) and South Korea (11%) in 2025.

Total global LNG exports amounted to 603 bcm in 2025, as another 39 bcm (+7%) was added to the global LNG trade, compared to 2024 (564 bcm).

In 2025, the world’s largest LNG exporters remained the United States (26%) increasing its share further by 4 percentage points year-on-year. It was followed by Australia (17%), Qatar (16%), Russia (8%), Malaysia (7%) and Indonesia (4%).

EU quarterly gas market reports

The older reports (2008-2023) are available in a dedicated CIRCA BC

Renewable capacity additions also reached record levels in 2025, close to 70 GW of new installations. New solar capacity made up the bulk of additions, growing to 359 GW by year-end — a 19% increase compared to 2024 (+56 GW). Wind (onshore and offshore) capacity stood at 244 GW, up 6% (+13 GW) on the previous year.

Electricity consumption in the EU rose (+1%) compared with 2024, continuing the gradual recovery following the 2022 energy crisis. The increase was mainly driven by colder winter temperatures than in the winter of 2024, which raised electricity demand. Despite this increase, demand remained 2% below the 2019-2022 average, indicating that the recovery is still ongoing.

These market fundamentals — alongside higher gas prices, especially in the first half of the year — supported an increase in wholesale electricity prices in 2025, after two consecutive declines in 2024 and 2023. Low-carbon generation remained stable, as a marginal decrease in renewable generation was offset by slightly higher nuclear output. 

The European Power Benchmark averaged 85 €/MWh in 2025, 9% higher than in 2024 but still 14% lower than in 2023. Prices diverged significantly between EU countries, ranging from a yearly average of 41 €/MWh in Finland to 116 €/MWh in Italy. The only year-on-year decreases were registered in Finland (-14%) and Estonia (-5%), while the largest increases were seen in Austria (+22%), Belgium (+18%), Denmark (+16%) and Slovenia (+16%).

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.