gas – Muhasebe News

Electricity & gas in the EU hit record prices in 2022

MuhasebeNews — Wed, 26 Apr 2023 10:38:41 +0000

In the second half of 2022, average household electricity prices in the EU continued to show a sharp increase compared with the same period in 2021, from €23.5 per 100 kWh to €28.4 per 100 kWh. Average gas prices also increased compared with the same period in 2021 from €7.8 per 100 kWh to €11.4 per 100 kWh in the second half of 2022. These prices are the highest on Eurostat’s record.

After a significant increase in prices that started before the Russian invasion of Ukraine but skyrocketed up to the second semester of 2022, electricity and natural gas prices have recently shown signs of stabilizing, partly due to policies and interventions by EU governments. EU countries opted for various measures, such as reducing taxes and fees, temporary tax waivers to consumers, price caps, providing lump sum support or allocating vouchers to final consumers, and some countries applied regulated prices.

Compared with the second half of 2021, the share of taxes in the electricity bill dropped sharply from 36% to 16% (-18.3%) and in the gas bill from 27% to 14% (-15.8%), with all EU countries putting in place governmental allowances and subsidies or reduce taxes and levies to mitigate high-energy costs. These governmental measures, while lowering energy prices for the final consumer, have burdened governmental accounts.

This information comes from data on electricity and gas prices published recently by Eurostat. The article presents a handful of findings from the more detailed Statistics Explained articles on electricity prices and natural gas prices.

Electricity prices up in all EU countries except Malta and the Netherlands

Household electricity prices rose in all EU members, except Malta (-3%, in national currencies) and the Netherlands (-7%), in the second half of 2022, compared with the same period of 2021. Prices in Malta are regulated, while the Dutch government supports consumers with lump sums and taxes reduction. The highest increases were recorded in Romania (+112%), Czechia (+97%), Denmark (+70%), Lithuania (+65%) and Latvia (+59%), while the lowest were in Luxembourg (+3%), Austria and Germany (both +4%), and Poland and Bulgaria (both +5%). Expressed in euro, average household electricity prices in the second half of 2022 were lowest in Hungary (€10.8 per 100 kWh), Bulgaria (€11.5) and Malta (€12.8) and highest in Denmark (€58.7), Belgium (€44.9), and Ireland (€42.0).

Gas prices increased in all EU countries

Between the second half of 2021 and the second half of 2022, gas prices increased in all 27 EU countries. Gas prices (in national currencies) surged the most in Czechia (+231%), Romania (+165%), Latvia (+157%), Lithuania (+112%) and Belgium (+102%). There were only two increases below 20%: Croatia (+14%) and Slovakia (18%). All price increases are from the energy and supply component, mainly driven by the recent energy crisis.

Expressed in euro, average household gas prices in the second half of 2022 were lowest in Hungary (€3.5 per 100 kWh), Croatia (€4.5) and Slovakia (€4.9) and highest in Sweden (€27.5), Denmark (€20.8) and the Netherlands (€19.3). The price of natural gas for households in Sweden was 157 % higher than the EU average price. However, natural gas use in Sweden is very limited.

Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Greenhouse Gas Emissions Statistics, 1990-2017

MuhasebeNews — Thu, 11 Apr 2019 08:27:59 +0000

Greenhouse Gas Emissions Statistics, 1990-2017

Total GHG emissions were 526.3 Mt CO₂equivalent in 2017

The greenhouse gas inventory results revealed that the overall greenhouse gas (GHG) emissions as CO₂equivalent for the year 2017 were 526.3 million tonnes (Mt). The energy sector accounted for the largest share of GHG emissions at 72.2%. The energy sector was followed by the industrial processes and product use with 12.6%, the agricultural activities with 11.9% and the waste with 3.3%.

GHG emissions per capita increased

Total greenhouse gas emissions as CO₂equivalent increased by 140.1% in 2017 compared to the emissions in 1990. CO₂equivalent emissions per capita were 6.6 tonnes in 2017, while it was 4 tonnes for the year 1990.

Biggest share in total CO₂emissions was observed in energy sector

The biggest share with 86.3% of total CO₂emissions was due to energy sector when 34% of total CO₂emissions was due to electricity and heat production which is a sub-category of energy sector. The remaining 13.4% of these emissions originated from industrial processes and product use and 0.3% of them come from the agricultural activities and waste sector in 2017.

62.3% of CH₄emissions were originated from agricultural activities

The highest portion of CH₄emissions was originated from agricultural activities with 62.3% while 21.3% was from waste, 16.4% was from energy and 0.03% was from industrial processes and product use⁽¹⁾.

Agricultural activities had the biggest share in total N₂O emissions

71% of N₂O emissions originated from agricultural activities, while 15.1%, 10.7% and 3.3% of the N₂O emissions originated from waste, energy, and industrial processes and product use, respectively⁽¹⁾.

The next release on this subject will be in April 2020.

EXPLANATIONS

The greenhouse gas emission inventory includes direct GHGs as carbondioxide (CO₂), methane (CH₄), nitrousoxide (N₂O), F-gases, and indirect GHGs as nitrogenoxides (NO_x), non-methane volatile organic compounds (NMVOC), carbonmonoxide (CO) and sulphurdioxide (SO₂) emissions originated from energy, industrial processes and product use, agricultural activities and waste.

(1) Figures may not add up to 100% due to rounding.

Source: TÜİK
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Industrial Production Index of Turkey, March 2017

MuhasebeNews — Mon, 08 May 2017 10:53:39 +0000

Industrial production increased by 1.3% compared with previous month
When the sub sectors of the seasonally and calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index increased by 2.1% and manufacturing index increased by 1.6%, electricity, gas, steam and air conditioning supply index decreased by 1.1% in March 2017, compared with previous month.

Industrial production increased by 2.8% compared with same month of previous year
When the sub sectors of the calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index decreased by 3.8%, manufacturing index increased by 2.5% and electricity, gas, steam and air conditioning supply index increased by 7.7% in March 2017, compared with same month of previous year.
The largest increase was in durable consumer goods
When the seasonally and calendar adjusted main industrial groupings (MIGs) were examined, the largest increase was in durable consumer goods by 6.4 % in March 2017, compared with previous month.

The largest increase realized in manufacture of leather and related products
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined, the largest increase was in manufacture of leather and related products by 23.5%, it was followed by manufacture of electrical equipment by 9.1% and manufacture of coke and refined petroleum products by 5% in March 2017, compared with previous month.

The highest decrease realized in manufacture of basic pharmaceutical products and pharmaceutical preparations
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined the highest decrease was in manufacture of basic pharmaceutical products and pharmaceutical preparations by 9.9%, it was followed by manufacture of tobacco products by 5.7% and manufacture of other transport equipment by 4% in March 2017 compared with previous month.

Industrial production increased by 1.4% compared with the previous quarter
In the first quarter of 2017, seasonally and calendar adjusted industrial production increased by 1.4% compared with the previous quarter. The calendar adjusted industrial production increased by 2.2% compared with the same quarter of the previous year.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Industrial Production Index of Turkey, February 2017

MuhasebeNews — Mon, 10 Apr 2017 12:44:29 +0000

Industrial production decreased by 0.4% compared with previous month
When the sub sectors of the seasonally and calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index increased by 5%, manufacturing index decreased 0.9% and electricity, gas, steam and air conditioning supply index increased by 0.6% in February 2017, compared with previous month.
Industrial production increased by 1% compared with same month of previous year
When the sub sectors of the calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index decreased by 13.6%, manufacturing index increased by 0.7% and electricity, gas, steam and air conditioning supply index increased by 9.4% in February 2017, compared with same month of previous year.
The largest decrease was in capital goods
When the seasonally and calendar adjusted main industrial groupings (MIGs) were examined, the largest decrease was in capital goods by 4.6% in February 2017, compared with previous month.

The highest decrease realized in manufacture of other transport equipment
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined, the largest decrease was in manufacture of other transport equipment by 21%, it was followed by manufacture of basic pharmaceutical products and pharmaceutical preparations and manufacture of coke and refined petroleum products by 11.4% in February 2017, compared with previous month.

The largest increase realized in manufacture of beverages
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined the highest increase was in manufacture of beverages by 6.9%, it was followed by manufacture of machinery and equipment n.e.c. by 5.8% and manufacture of other non-metallic mineral products by 4.3% in February 2017 compared with previous month.

Domestic Producer Price Index in Turkey, March 2017

MuhasebeNews — Tue, 04 Apr 2017 13:16:57 +0000

Domestic producer price index increased by 1.04%
Domestic producer price index (D-PPI) increased by 1.04% on monthly basis, by 6.38% on December of the previous year basis, by 16.09% on same month of the previous year basis and by 6.89% on the twelve months moving averages basis in March 2017.

Domestic producer price index rate of changes, 2016-2017
[2003=100]
Domestic producer price index, annual change on same month of the previous year, 2016-2017
[2003=100]

D-PPI increased by 0.37% for mining and stone quarrying, increased by 1.35% for manufacturing, decreased by 2.69% for electricity and gas and increased by 0.66% for water supply compared with the previous month.

Domestic producer price index and rate of changes, March 2017
[2003=100]

The highest monthly increase was in basic pharmaceutical products and pharmaceutic preparations
The highest rates of monthly increase in D-PPI by sub divisions of industry were basic pharmaceutical products and pharmaceutical preparations 6.84%, other transport equipment by 3.73%, tobacco products by 3.73%. On the other hand the highest rates of monthly decrease in D-PPI by sub divisions of industry were index for coke and refined petroleum products by 4.39%, electricity, gas, steam and air conditioning by 2.69% and crude petroleum and natural gas by 0.44%.

The highest monthly increase in main industrial groupings was in intermediate goods
According to main industrial groupings classification in March 2017, the highest rates of monthly and annual increase were in intermediate goods.

Domestic producer price index main industrial groupings and rate of changes, March 2017
[2003=100]

Labor Cost Index in Turkey, IV. Quarter: October-December, 2016

MuhasebeNews — Sun, 26 Mar 2017 08:00:46 +0000

Hourly labor cost index increased by 0.8% compared to previous quarter
Seasonally and calendar adjusted hourly labor cost index increased by 0.8% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. The breakdown by economic activity shows that this increase was 2.9% for industry sector, 3.2% for construction sector and decrease was 0.8% for services sector.

The highest increase in seasonally and calendar adjusted hourly labor cost index was in economic activity E (Water supply; sewerage, waste management and remediation activities) with 6.2% in the fourth quarter of 2016 compared to previous quarter.

Hourly labor cost index, Quarter IV: October – December, 2016
[2010=100]

Hourly earnings index increased by 0.9% compared to previous quarter
Seasonally and calendar adjusted hourly earnings index increased by 0.9% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. Economic activity breakdown shows that this figure was increased by 2.8% for industry sector, 3.0% for construction sector and decreased by 0.4% for services sector.

The highest increase in seasonally and calendar adjusted hourly earnings index was in economic activity D (Electricity, gas, steam and air conditioning supply) with 9.2% in the fourth quarter of 2016 compared to previous quarter.
Hourly earnings index, Quarter IV: October – December, 2016
[2010=100]
Hourly labor cost excluding earnings index decreased by 2% compared to previous quarter
Seasonally and calendar adjusted hourly labor cost excluding earnings index decreased by 2% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. Economic activity breakdown shows that this figure was decreased by 3.4% for industry sector, 1.2% for service and increased by 2% for construction sector.

The highest decrease in seasonally and calendar adjusted hourly labor cost excluding earnings index was in economic activity J (Information and communication) with 13% in the fourth quarter of 2016 compared to previous quarter.
Hourly labor cost excluding earnings index, Quarter IV: October – December, 2016
[2010=100]

Seasonally and calendar adjusted hourly labor cost indices, 2013-2016

Industrial Production Index in Turkey, January 2017

MuhasebeNews — Sun, 26 Mar 2017 07:00:22 +0000

Industrial production increased by 1.3% compared with previous month
When the sub sectors of the seasonally and calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index decreased by 4.1%, manufacturing index increased 1.6% and electricity, gas, steam and air conditioning supply index increased by 1.5% in January 2017, compared with previous month.

Industrial production increased by 2.6% compared with same month of previous year
When the sub sectors of the calendar adjusted industrial sector (based on 2010=100) were examined, while mining and quarrying index decreased by 13.7%, manufacturing index increased by 2.8% and electricity, gas, steam and air conditioning supply index increased by 7.2% in January 2017, compared with same month of previous year.

The largest increase was in energy
When the seasonally and calendar adjusted main industrial groupings (MIGs) were examined, the largest increase was in energy by 3.7 % in January 2017, compared with previous month.

The highest increase realized in manufacture of furniture
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined, the largest increase was in manufacture of furniture by 18.0%, it was followed by manufacture of fabricated metal products (except machinery and equipment) by 12.5% and manufacture of coke and refined petroleum products by 11.2% in January 2017, compared with previous month.

The largest decrease realized in manufacture of computer, electronic and optical products
When the sub sectors of the seasonally and calendar adjusted manufacturing were examined the highest decrease was in manufacture of computer, electronic and optical products by 15.9%, it was followed by manufacture of leather and related products and other manufacturing by 4.5% in January 2017 compared with previous month.