EU electricity prices rise 22.8% since February; gas increases 88.4%
Wholesale electricity prices in the EU increased by 22.8% and natural gas by 88.4% between February and August 2026, driven by geopolitical tensions in the Middle East and summer heatwaves. The Eurelectric report notes that while clean energy production provided some resistance to price shocks, the EU remains significantly exposed to fossil fuel volatility due to insufficient storage and grid infrastructure.