Companies in Romania and Hungary pay the highest energy prices in the European Union, almost three times higher than those paid by companies in Finland, according to the annual report on the single market and competitiveness, published on Wednesday by the European Commission, reports DPA.

According to the document, energy prices in the EU increased significantly after the beginning of the Russian invasion in Ukraine, two years ago. The average price paid by a medium-sized company in the EU rose to 0.21 euros per kilowatt-hour (KWh) in 2023, from 0.18 in 2022.

Medium-sized companies in Romania pay the highest electricity prices in the EU, at 0.33 euros per KWh, followed by those in Hungary, which pay 0.30 euros per KWh. At the opposite pole, the lowest prices were identified in Finland and Portugal, at 0.10 euros per KWh, according to Agerpres.

The Community Executive report points out that Great Britain has seen much more dramatic increases, while in the US energy prices have remained at a low level.

Also, in the case of the European Union, the share of energy from renewable sources increased to 23.02% in 2022, the Commission report shows. Comparatively, in 2020, the last year for which there are comparable data, the share of energy from renewable sources was twice as high in the EU as in the USA and Japan.

The European Union has set a goal for 2030 for 42.5% of the energy used to come from renewable sources.