Electricity Prices in Europe Compared
In our article about regional price change in the UK, we have seen that even in such a small island nation as the United Kingdom, there can be quite drastic changes in price. Expanding our view, this page focuses on how our electricity prices compare with those of other European countries.
Using data from the European Commission, we have created a table and graph displaying the electricity prices of the 28 full EU members and the 3 countries included in the recent EEA financial mechanism deal: Iceland; Liechtenstein; and Norway. Without specific details on taxes, other charges and usage habits, it is very hard to mark exactly how much the ‘average tariff’ costs in each country but below we have on average how much each kWh of electricity costs.
In the UK, the standard charge has been including into the average price, making a Tariff Comparison Rate (TCR) of sorts. These prices have been converted from Euros to Great British Pounds on the 6th March 2017 using a conversion rate of 0.86.
|Country||Price per kWh|
From the above data we can see that UK electricity prices are reasonably priced in relation to other EU countries. Especially taking into consideration that the average UK wage is much higher than that of countries such as Portugal, Italy and Spain, whose electricity prices are a fair bit higher than ours.
Just from this seemingly insignificant price difference in pence, it could result in hundreds of pounds of price difference. For example a 3,100 kWh yearly usage in Denmark would have a base cost of £827.08, whereas in Bulgaria it would cost an average of £256.99, a massive £570.99 price difference for the same product.