Prices of Electricity Worldwide

Electricity is super important in our everyday lives. It runs our homes, businesses, and industries. But here’s the thing: the price of electricity is not the same everywhere.

It’s different from one country to another, and that affects people and economies in different ways.

To really tackle the issues and possibilities tied to using energy and being sustainable, it’s crucial to know how much electricity costs all over the world.

In this post, we’ll check out how prices vary globally and what it means for regular folks and economies.

Global Electricity Rate Per Unit – Chart

Electricity prices vary globally, impacting both households and businesses. Afghanistan has the lowest household rate at 0.039 EURO/kWh, while Zimbabwe has one of the highest at 0.043 EURO/kWh.

In business, Iraq has a remarkably low rate of 0.013 EURO/kWh, while Italy stands out with a high rate of 0.531 EURO/kWh.

CountriesGlobal Households Electricity Price , EURO / kWhGlobal Business Electricity Price , EURO / kWh
Afghanistan0.039
Albania0.1030.114
Algeria0.0360.031
Angola0.0190.016
Argentina0.0480.07
Aruba0.2070.31
Australia0.2150.211
Austria0.4270.329
Azerbaijan0.0430.059
Bahamas0.3690.362
Bahrain0.0440.07
Bangladesh0.0560.089
Barbados0.2130.27
Belarus0.0880.117
Belgium0.3790.149
Belize0.1980.158
Bhutan0.0150.018
Bosnia & Herz.0.0880.1
Botswana0.0860.103
Brazil0.1490.131
Bulgaria0.1250.116
Burkina Faso0.1860.18
Burma0.0260.071
Cambodia
Cameroon0.0760.16
Canada0.1120.094
Cape Verde0.2840.182
Cayman Islands0.3850.349
Chile0.1680.139
China0.0710.082
Colombia0.1620.156
Costa Rica0.1370.204
Croatia0.1480.146
Cuba0.027
Cyprus0.3050.293
Czech Republic0.3560.141
DR Congo0.0680.079
Denmark0.2140.127
Dom. Republic0.1140.169
Ecuador0.0880.077
Egypt0.0260.034
El Salvador0.2180.179
Estonia0.290.166
Ethiopia0.0050.021
Finland0.1810.134
France0.2340.188
Gabon0.185
Georgia0.0710.109
Germany0.3590.263
Ghana0.1150.106
Greece0.2440.188
Guatemala0.2810.161
Honduras0.2230.225
Hong Kong0.1840.171
Hungary0.1040.154
Iceland0.1430.066
India0.0720.119
Indonesia0.0880.068
Iran
Iraq0.0130.04
Ireland0.47
Israel0.160.136
Italy0.3930.531
Ivory Coast0.110.186
Jamaica0.2660.253
Japan0.210.251
Jordan0.0820.086
Kazakhstan0.0450.058
Kenya0.1860.159
Kuwait0.0260.045
Kyrgyzstan0.0120.034
Laos0.031
Latvia0.3180.138
Lebanon0.1550.18
Lesotho0.0890.018
Libya0.0070.008
Liechtenstein0.4670.331
Lithuania0.2290.124
Luxembourg0.2170.171
N. Macedonia0.1080.19
Madagascar0.120.152
Malawi0.0990.139
Malaysia0.0450.123
Maldives
Mali0.1990.144
Malta0.1330.148
Mauritius0.1230.118
Mexico0.0970.196
Moldova0.1520.125
Morocco0.1060.096
Mozambique0.1160.073
Namibia0.105
Nepal0.040.064
Netherlands0.3050.245
New Zealand0.181
Nicaragua0.160.218
Nigeria0.0420.067
Norway0.0930.108
Oman0.0240.203
Pakistan0.0510.12
Panama0.1550.17
Paraguay0.0510.042
Peru0.1730.155
Philippines0.1850.144
Poland0.2190.456
Portugal0.1720.092
Qatar0.0290.033
Romania0.160.209
Russia0.060.088
Rwanda0.2080.077
Saudi Arabia0.0440.063
Senegal0.166
Serbia0.1030.112
Sierra Leone0.1410.156
Singapore0.2010.287
Slovakia0.1910.376
Slovenia0.1910.171
South Africa0.1610.077
South Korea0.1090.087
Spain0.2050.14
Sri Lanka0.1730.119
Sudan0.0070.04
Suriname
Swaziland0.110.073
Sweden0.214
Switzerland0.3070.236
Syria0.0070.02
Taiwan0.0850.125
Tanzania0.0880.091
Thailand0.1270.129
Togo0.1750.162
Trinidad & Tobago0.0470.048
Tunisia0.0620.104
Turkey0.0720.16
Uganda0.1570.113
Ukraine0.0360.098
UAE0.0730.1
UK0.4040.372
Uruguay0.230.111
USA0.1510.134
Uzbekistan0.0240.047
Venezuela0.0770.091
Vietnam0.0750.071
Zambia0.0270.042
Zimbabwe0.043

These differences in electricity prices are a result of diverse economic and energy policies in different countries. It’s important to understand how much you pay for electricity because it can have a big impact on both personal and business budgets.

Do electricity prices change during the day?

Electricity prices aren’t the same all day. They change because people use different amounts of electricity at different times.

When many people use electricity, like in the morning and evening, it becomes more expensive. However, late at night, when fewer people use electricity, it’s usually cheaper.

This shifting price is known as “time-of-use pricing,” aiming to encourage people to use electricity when it’s less busy, like at night.

Understanding these changes can help you save money on your electricity bill.

Peak and Off-Peak Hours:

  • Mornings and evenings are peak hours.
  • Late at night is off-peak. (cheaper rate per unit)

Saving Money Tips:

  • Be aware of price changes.
  • Adjust electricity use to save on the bill.

Why do electricity prices vary by region?

The cost of electricity can differ from one area to another, and there are several reasons for this.

  • The expenses related to generating and delivering electricity, government rules, and the availability of natural resources all play a role.
  • In certain places, producing electricity might be more expensive because of the use of pricier fuel sources or the necessity for extra infrastructure.
  • Government policies also influence electricity prices, with some regions having higher taxes or fees related to electricity production and distribution.

Additionally, the presence of natural resources, like renewable energy sources, can affect prices. Regions with abundant access to these resources may experience lower electricity production costs. Altogether, these factors contribute to the variation in electricity prices across different regions.

Why does electricity prices increase in Different Countries?

Electricity prices surge due to several factors, with the foremost being the expenses associated with producing and delivering electricity.

Cost Components:

  • Fuel for power plants
  • Maintenance and upgrades to infrastructure
  • Fluctuations in supply and demand

External Influences:

  • Government regulations and Taxes

Market Dynamics:

  • Increasing demand for electricity
  • Growing investments in renewable energy sources

As the demand for electricity escalates and investments in renewable energy sources grow, these elements collectively contribute to the overall rise in electricity prices.

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