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.

Countries	Global Households Electricity Price , EURO / kWh	Global Business Electricity Price , EURO / kWh
Afghanistan	0.039
Albania	0.103	0.114
Algeria	0.036	0.031
Angola	0.019	0.016
Argentina	0.048	0.07
Aruba	0.207	0.31
Australia	0.215	0.211
Austria	0.427	0.329
Azerbaijan	0.043	0.059
Bahamas	0.369	0.362
Bahrain	0.044	0.07
Bangladesh	0.056	0.089
Barbados	0.213	0.27
Belarus	0.088	0.117
Belgium	0.379	0.149
Belize	0.198	0.158
Bhutan	0.015	0.018
Bosnia & Herz.	0.088	0.1
Botswana	0.086	0.103
Brazil	0.149	0.131
Bulgaria	0.125	0.116
Burkina Faso	0.186	0.18
Burma	0.026	0.071
Cambodia
Cameroon	0.076	0.16
Canada	0.112	0.094
Cape Verde	0.284	0.182
Cayman Islands	0.385	0.349
Chile	0.168	0.139
China	0.071	0.082
Colombia	0.162	0.156
Costa Rica	0.137	0.204
Croatia	0.148	0.146
Cuba	0.027
Cyprus	0.305	0.293
Czech Republic	0.356	0.141
DR Congo	0.068	0.079
Denmark	0.214	0.127
Dom. Republic	0.114	0.169
Ecuador	0.088	0.077
Egypt	0.026	0.034
El Salvador	0.218	0.179
Estonia	0.29	0.166
Ethiopia	0.005	0.021
Finland	0.181	0.134
France	0.234	0.188
Gabon	0.185
Georgia	0.071	0.109
Germany	0.359	0.263
Ghana	0.115	0.106
Greece	0.244	0.188
Guatemala	0.281	0.161
Honduras	0.223	0.225
Hong Kong	0.184	0.171
Hungary	0.104	0.154
Iceland	0.143	0.066
India	0.072	0.119
Indonesia	0.088	0.068
Iran
Iraq	0.013	0.04
Ireland	0.47
Israel	0.16	0.136
Italy	0.393	0.531
Ivory Coast	0.11	0.186
Jamaica	0.266	0.253
Japan	0.21	0.251
Jordan	0.082	0.086
Kazakhstan	0.045	0.058
Kenya	0.186	0.159
Kuwait	0.026	0.045
Kyrgyzstan	0.012	0.034
Laos	0.031
Latvia	0.318	0.138
Lebanon	0.155	0.18
Lesotho	0.089	0.018
Libya	0.007	0.008
Liechtenstein	0.467	0.331
Lithuania	0.229	0.124
Luxembourg	0.217	0.171
N. Macedonia	0.108	0.19
Madagascar	0.12	0.152
Malawi	0.099	0.139
Malaysia	0.045	0.123
Maldives
Mali	0.199	0.144
Malta	0.133	0.148
Mauritius	0.123	0.118
Mexico	0.097	0.196
Moldova	0.152	0.125
Morocco	0.106	0.096
Mozambique	0.116	0.073
Namibia	0.105
Nepal	0.04	0.064
Netherlands	0.305	0.245
New Zealand	0.181
Nicaragua	0.16	0.218
Nigeria	0.042	0.067
Norway	0.093	0.108
Oman	0.024	0.203
Pakistan	0.051	0.12
Panama	0.155	0.17
Paraguay	0.051	0.042
Peru	0.173	0.155
Philippines	0.185	0.144
Poland	0.219	0.456
Portugal	0.172	0.092
Qatar	0.029	0.033
Romania	0.16	0.209
Russia	0.06	0.088
Rwanda	0.208	0.077
Saudi Arabia	0.044	0.063
Senegal	0.166
Serbia	0.103	0.112
Sierra Leone	0.141	0.156
Singapore	0.201	0.287
Slovakia	0.191	0.376
Slovenia	0.191	0.171
South Africa	0.161	0.077
South Korea	0.109	0.087
Spain	0.205	0.14
Sri Lanka	0.173	0.119
Sudan	0.007	0.04
Suriname
Swaziland	0.11	0.073
Sweden	0.214
Switzerland	0.307	0.236
Syria	0.007	0.02
Taiwan	0.085	0.125
Tanzania	0.088	0.091
Thailand	0.127	0.129
Togo	0.175	0.162
Trinidad & Tobago	0.047	0.048
Tunisia	0.062	0.104
Turkey	0.072	0.16
Uganda	0.157	0.113
Ukraine	0.036	0.098
UAE	0.073	0.1
UK	0.404	0.372
Uruguay	0.23	0.111
USA	0.151	0.134
Uzbekistan	0.024	0.047
Venezuela	0.077	0.091
Vietnam	0.075	0.071
Zambia	0.027	0.042
Zimbabwe	0.043

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.