Iceland electricity prices
The residential electricity price in Iceland is
ISK 22.842 per kWh or USD 0.182.
The electricity price for businesses is
ISK 11.420 kWh or
USD 0.091.
These retail prices were collected in September 2024 and include the cost of power, distribution and transmission, and all taxes and fees.
Compare Iceland with 150 other countries.
Historical quarterly data, along with the latest update from March 2025 are available for download.
Sources: Government of Iceland, Orkusetur
Electricity price analysis for Iceland
- Residential electricity prices in Iceland are 108.45% of the world average electricity price and 73.76% of the average price in Europe.
- Business electricity rates in Iceland are 52.71% of the world average price and 41.36% of the average in Europe.
- Household rates are 208.98% of the business rates.
- Electricity prices paid by small businesses in Iceland are 153.93% of the prices paid by big businesses.
- The price paid by households with low electricity consumption is 154.79% of the price paid by households with high electricity consumption.
The energy mix of Iceland
Based on the United States Energy Information Adminstration data from 2022, electricity in Iceland is produced from the following sources: fossil fuels 0.00%,
wind 0.05%,
solar 0.00%,
hydro 70.16%,
nuclear 0.00%, and
geothermal 29.79%.
You can also compare the energy mix of Iceland to other countries.
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