Electricity prices

Electricity prices, September 2023: The chart shows the price of electricity for households and businesses in over 100 countries. 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 world average price is 0.156 U.S. Dollar per kWh for household users and 0.152 U.S. Dollar per kWh for business users. The prices for households 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.

The latest business and household electricity price data from March 2024 are available for download.
Electricity prices for households, September 2023
(kWh, U.S. Dollar)
0.002
0.003
0.006
0.006
0.006
0.008
0.013
0.014
0.015
0.015
0.016
0.018
0.021
0.022
0.023
0.026
0.026
0.028
0.029
0.029
0.032
0.040
0.043
0.046
0.047
0.047
0.048
0.048
0.050
0.051
0.052
0.053
0.054
0.055
0.059
0.060
0.064
0.065
0.066
0.067
0.069
0.073
0.075
0.076
0.076
0.078
0.080
0.083
0.087
0.088
0.090
0.090
0.094
0.095
0.096
0.097
0.101
0.107
0.110
0.112
0.114
0.114
0.116
0.116
0.118
0.120
0.121
0.121
0.123
0.124
0.126
0.127
0.131
0.131
0.133
0.137
0.142
0.143
0.145
0.146
0.150
0.151
0.155
0.155
0.156
0.163
0.163
0.168
0.169
0.170
0.172
0.175
0.175
0.177
0.182
0.182
0.184
0.185
0.186
0.192
0.192
0.196
0.199
0.202
0.204
0.205
0.207
0.209
0.209
0.209
0.212
0.215
0.216
0.216
0.217
0.218
0.223
0.232
0.234
0.238
0.239
0.245
0.249
0.255
0.256
0.267
0.281
0.281
0.284
0.296
0.310
0.311
0.312
0.331
0.334
0.347
0.349
0.357
0.368
0.401
0.402
0.421
0.434
0.446
0.447
0.453
0.461
0.537
0
0.1
0.3
0.4
0.54


Price differences across continents

The highest residential electricity prices are in Europe at USD 0.241 per kWh and the lowest average prices are in Asia with USD 0.080. Africa (0.117), Australia (0.235), North America (0.139), and South America (0.184) are in between. The highest business electricity prices are also in Europe at USD 0.210 per kWh and the lowest prices are in Africa and Asia (0.106). In the other continents: Australia (0.217), North America (0.163), and South America (0.189).


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. These countries subsidize prices as they are rich in energy resources or incomes are very low. The most expensive countries are in Europe including Ireland, Italy, and the United Kingdom. These countries have higher taxes and relatively high transmission and distribution cost. Several island countries such as the Bahamas and Bermuda are also expensive as they rely on oil shipments to generate electricity. The differences in business electricity rates largely mirror those for residential rates.


Business rates in the largest economies

The cost in the US, the largest economy in the world, is USD 0.151 per kWh which is similar to the global average. The rates in the second largest economy, China, are about half of that: USD 0.089. In contrast, German businesses pay USD 0.271 per kWh and Japan is in between with USD 0.194. 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 a tool in the transition to cleaner energy.


Chart: World average electricity prices, USD / kWh

World average electricity prices


Chart: Average electricity prices in Europe, USD / kWh

Average electricity prices in Europe


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