The prices of electricity these days are becoming the burning issue in many countries, especially when countries grow up in a hurry. In the United Kingdom rising energy costs resulted in the whole energy market being investigated to look at failings in competition. Although electricity costs in the United Kingdom are not comparatively low some countries exists which have the worst prices of electricity.
In this article I’m going to compare internationally to see that who is paying a lot of $/kWh for their energy. I’ve gathered some numbers and crunched a very little knowledge to visualize who is actually paying lot of money for their power. For my neighbor here in the UK I’ll add a little additional knowledge at the end.
The prices of electricity in the world in $/kWh
To more clear this question or to let the people know about the prices of electricity in the world I have gathered some of the electricity costs regarding 17 different countries in the globe and then is calculated in dollar per kilowatt hour. The information is based on the average prices of electricity and exchange rates of year 2011, and I have plotted them in a graph in United States cents/kilowatt hour to keep it more precise and tidy.
Average Rates of Electricity
Let initialize with the perceivable, countries namely Denmark, Germany and Spain have comparatively more expensive electricity. No doubt in plain dollars terms Denmark is exceeded only by small island countries which is highly dependable on the diesel they imports for the purpose of power production.
The electricity of Canada has low costs which is 10 US cents per kilowatt hour, which shows that they have extremely high percentage of average electricity usage. The electricity of United States has price of 0.12 dollar per kilowatt hour which is very cheap according to the rates of other countries in the world. Similarly in China and India the rates of electricity are also very cheap. The United Kingdom is in the center at price of 20 cents. Which is so much expensive from but not too much bad from Europe’s point of view, where most of the countries pays high shares of taxes for their electricity and power. I realize that comparison so much useful. And there is a diverse reason behind this. But the issues with this are two the one is prices of electricity are moving in various countries like South Africa, Australia and Nigeria as well. The second issue is the Basic exchange rate interconversions are always not the best measure of how expensive really something is.
UK electricity prices (pence per kWh)
According to the recent research work it was tasked to analyze what had happened to the average bills of energy in United Kingdom. And this also involves the analyzing of changing electricity prices and gas over the last many years. The information is pretty useful (below)
In the last 10 years the actual cost of electricity has exceeded by 63%, while for LPG it has risen up to 115%. These are real prices, so these are the changes after having adjustment for inflation. If you look at its nominal costs you’d perceive how energy prices became such a hot stock. Ten years past a unit of electricity used to price somebody seven pence, these days it would be 15. Likewise gas went from 2 to 5 pence. What this meant that was the average dual fuel bill rocketed from £600 to £1,300 over the course of a decade.
A Press Release by: Mirzeydin Ilhanli