Electricity prices

Electricity prices, December 2023: The average electricity price in the world is USD 0.156 kWh for residential users and USD 0.153 USD per kWh for businesses. The highest residential electricity prices are in Europe at USD 0.234 per kWh and the lowest average prices are in Asia with USD 0.080. Africa (0.123), Australia (0.226), North America (0.132), and South America (0.183) are in between. The highest business electricity prices are also in Europe at USD 0.205 per kWh and the lowest prices are in Africa (0.110) and Asia (0.106). On the other continents: Australia (0.182), North America (0.156), and South America (0.189).

You can see averages by continent and other country groups at our regional prices page. You can also look at a world map of the electricity prices by country.

Historical data and the latest electricity price data from June 2024 are available for download.
Electricity prices for households, December 2023
(kWh, U.S. Dollar)
0.002
0.006
0.006
0.006
0.006
0.008
0.013
0.014
0.015
0.015
0.015
0.017
0.019
0.020
0.023
0.023
0.026
0.027
0.029
0.032
0.040
0.043
0.046
0.047
0.047
0.047
0.048
0.048
0.049
0.050
0.052
0.053
0.053
0.055
0.058
0.062
0.065
0.065
0.067
0.072
0.073
0.075
0.075
0.076
0.078
0.080
0.083
0.087
0.089
0.090
0.090
0.093
0.094
0.096
0.096
0.101
0.107
0.108
0.111
0.112
0.112
0.115
0.116
0.119
0.120
0.121
0.121
0.123
0.125
0.126
0.127
0.131
0.131
0.137
0.142
0.143
0.143
0.145
0.145
0.148
0.151
0.154
0.154
0.156
0.156
0.162
0.162
0.170
0.173
0.173
0.174
0.175
0.175
0.176
0.181
0.182
0.188
0.192
0.195
0.196
0.197
0.197
0.198
0.202
0.203
0.204
0.209
0.212
0.216
0.217
0.217
0.225
0.226
0.230
0.232
0.232
0.234
0.238
0.239
0.245
0.249
0.253
0.267
0.269
0.274
0.274
0.279
0.280
0.281
0.292
0.296
0.298
0.311
0.314
0.319
0.335
0.336
0.339
0.381
0.393
0.398
0.400
0.406
0.413
0.424
0.452
0.474
0.520
0
0.1
0.3
0.4
0.52


The most and least expensive countries in terms of residential electricity rates

The lowest residential electricity prices are in Ethiopia, Iran, Libya, Syria, Sudan and a few other countries where one kWh of electricity costs less than USD 0.10. Some of these counties, such as Iran and Libya, subsidize their electricity prices as they are rich in energy resources. Others, such as Ethiopia, are pressed to subsidize prices as incomes in the country are very low and electricity is an essential product.

The most expensive country in our latest rankings is Bermuda. A remote island country, it has to rely on fossil fuels for electricity generation with no option to import electricity from a neighbor. The Bahamas, also among the most expensive countries, faces a similar situation. But there are also several European countries among the most expensive such as Italy, Ireland and the U.K. These countries have higher taxes and relatively high transmission and distribution costs.


Business rates in the largest economies

The cost in the US, the largest economy in the world, is USD 0.137 per kWh which is slightly below the world average. The rates in the second largest economy, China, are even lower and stand at USD 0.087 per kWh. In contrast, German businesses pay USD 0.266 per kWh and Japan is in between with USD 0.170. These differences show that energy policies differ by country. China and the U.S. try to keep cost down whereas Germany maintains high prices as part of the effort to transition to cleaner energy.


Chart: World average electricity prices over time, USD / kWh, Q1 2019 - Q2 2024

World electricity prices: time chart


Chart: Average electricity prices in Europe over time, USD / kWh, Q1 2019 - Q2 2024

Electricity prices in Europe: time chart


About the data

The prices are per kWh and include all items in the electricity bill such as the distribution and energy cost, various environmental and fuel cost charges and taxes. The residential prices are calculated using the average annual household electricity consumption per year and for businesses, we use 1,000,000 kWh consumption per year. We do, however, calculate several data points at different levels of consumption for both households and businesses. The methodology of price collection is described on the about page.
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