Energy Prices Squeeze Six in Ten Europeans
Many households are cutting food, health and heating spending as energy costs rise across the EU.
Updated on Nov. 5, 2026 in Inflation
Live Poll
Have rising energy prices cut your household's purchasing power over the past year?
The European Investment Bank released its eighth EIB Climate Survey, based on interviews with 23,000 people across all 27 EU Member States, finding that rising energy prices have cut household purchasing power for six in ten Europeans.
Why it matters
Households are feeling the squeeze directly: 38% have cut everyday spending on food or health and 34% have turned down their heating because of rising prices. Among Europeans who expect the energy transition to deliver benefits, 82% expect less reliance on imported oil and gas and 79% expect steadier or lower prices.
Six in ten Europeans say rising energy prices have significantly reduced their purchasing power over the past 12 months, and 16% have gone into debt, asked for financial help, or delayed paying an energy bill. The survey covered 23,000 people aged 16 and over, weighted to represent each country's population.
The players
European Investment Bank (EIB)
The EU's public lending bank, which finances energy and climate projects and reported €33 billion in annual energy financing in 2025.
Ipsos bva
The research firm that conducted the survey among 23,000 people across the 27 EU Member States.
The details
Energy prices feed into household budgets through heating, electricity and the cost of goods, leaving less money for other essentials. The survey shows the strain in concrete choices: 38% of Europeans have cut everyday spending on food or health, and 34% have turned down their heating. Respondents also see the energy transition as a way to ease this pressure, with 79% expecting steadier or lower prices from it.
Timeline
The survey fieldwork ran from 3 to 25 August 2026.
The EIB published the eighth Climate Survey results on 5 November 2026.
The previous edition, in 2022, found slowing climate change as the top expected benefit in 19 Member States.
Money Landscape
Public expectations for the energy transition have shifted since the 2022 edition of the EIB survey, when slowing climate change was the leading expected benefit in 19 Member States. In 2026, reduced reliance on imported energy ranks first in 16 Member States, reflecting a stronger focus on energy costs and security.
If energy bills are squeezing your budget, it helps to review your fixed and variable energy costs and any spending lines where you have room to adjust. Households under this kind of pressure may also want to check whether they qualify for available energy or hardship support, and to talk through options with a qualified financial professional.
The takeaway
Energy costs are reshaping household choices across Europe, with many people cutting food, health or heating spending. If your own energy costs are rising, review your bills and budget lines now and consider a conversation with a qualified financial professional about your options.
Further reading
For the broader cost-of-living backdrop, see our Inflation coverage.
More information
Download the full 2026 EIB climate survey results by country from the European Investment Bank.
Live Poll
Have rising energy prices cut your household's purchasing power over the past year?
