Electricity prices
Electricity prices, Q4 2024: The average electricity price in the world is USD 0.150 kWh for residential users and USD 0.147 USD per kWh for businesses.
The highest residential electricity prices are in Europe at USD 0.228 per kWh and the lowest are in Asia with USD 0.080.
Africa (0.124), Oceania (0.227), North America (0.136), and South America (0.190) are in between.
The highest business electricity prices are in Oceania at USD 0.261 per kWh and the lowest prices are in Africa (0.115) and Asia (0.106).
On the other continents: Europe (0.197), North America (0.147), and South America (0.198).
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Energy mix
The world average price remained essentially the same for households and increased by about 1 percent for businesses since Q3 2024.
Electricity prices in Europe decreased by 1.11 percent for households and 0.09 percent for businesses compared to Q3 2024.
World average electricity prices, USD / kWh
The world average price remained essentially the same for households and increased by about 1 percent for businesses since Q3 2024.
Average electricity prices in Europe, USD / kWh
Electricity prices in Europe decreased by 1.11 percent for households and 0.09 percent for businesses compared to Q3 2024.
Percent change in electricity prices by continent
Quarterly changes from Q3 2024 and annual changes from Q4 2023.
| Continent |
Households
quarterly change
|
Households
annual change
|
Business
quarterly change
|
Business
annual change
|
|---|---|---|---|---|
| Africa | 4.42 | 0.67 | 5.95 | 4.72 |
| Asia | -4.44 | 0.12 | -3.91 | -0.04 |
| Europe | -1.11 | -2.32 | -0.09 | -6.63 |
| North America | -2.28 | 2.59 | -5.88 | -6.08 |
| Oceania | -4.31 | 0.97 | -1.08 | 23.96 |
| South America | 0.78 | 4.33 | 2.86 | 4.53 |
Short presentation on recent price trends
Notable price changes in specific countries
- Bahamas: Prices declined as oil prices have remained relatively low, and the country relies on oil to generate electricity.
- Chile: Prices increased substantially following the reduction of price subsidies.
- Egypt and Myanmar: A significant increase in business electricity prices was observed due to government decisions to align prices more closely with international levels.
Compare countries using March 2024 data
Data availability: January 2018 - December 2024.
Electricity prices for households, March 2024
(kWh, U.S. Dollar)
(kWh, U.S. Dollar)
0.002
0.003
0.006
0.006
0.006
0.008
0.013
0.013
0.015
0.015
0.018
0.018
0.019
0.020
0.023
0.026
0.027
0.029
0.032
0.033
0.039
0.042
0.045
0.046
0.046
0.047
0.048
0.049
0.050
0.051
0.052
0.053
0.053
0.053
0.058
0.058
0.060
0.062
0.065
0.066
0.069
0.074
0.075
0.075
0.075
0.079
0.080
0.089
0.090
0.090
0.091
0.093
0.093
0.096
0.097
0.097
0.097
0.098
0.109
0.112
0.112
0.115
0.117
0.119
0.121
0.122
0.124
0.124
0.124
0.125
0.127
0.127
0.130
0.131
0.132
0.137
0.137
0.137
0.139
0.151
0.155
0.155
0.156
0.160
0.163
0.166
0.173
0.173
0.174
0.175
0.176
0.176
0.179
0.180
0.181
0.181
0.184
0.184
0.184
0.185
0.195
0.195
0.195
0.196
0.200
0.201
0.202
0.204
0.207
0.208
0.210
0.211
0.217
0.217
0.218
0.224
0.224
0.225
0.226
0.230
0.238
0.239
0.246
0.247
0.248
0.253
0.255
0.270
0.290
0.293
0.294
0.298
0.298
0.334
0.335
0.339
0.339
0.343
0.346
0.356
0.372
0.376
0.379
0.407
0.424
0.433
0.458
0
0.1
0.2
0.3
0.46
Price differences across countries
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.
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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.
