The UK has been hardest hit by the cost of electricity in Europe.

That’s one of the key findings of a new study by The Underfloor Heating Store which estimates that the UK has seen an increase of 129.1% so far this year, with prices set to rise again next month.

The report, which analysed global costs of electricity and gas prices per kWh around the world and compared these against household costs in 2021, suggests the Czech Republic follows the UK closely behind, with electricity prices increasing by 121.6%.

The Netherlands ranked in third place, with electricity prices jumping by 108.5%.

In terms of gas prices, the authors of the report found that Belgium was the hardest hit – the country has experienced an estimated increase of 234%.

The UK has also seen a 209.1% increase in gas prices compared to 2021 and is faced with the fourth largest increase in gas prices out of 24 countries within this study.