Which country has the cheapest electricity?

Analysis: Germans pay the highest electricity price in the world

21.09.2020 – 10:36

Verivox GmbH

Heidelberg (ots)

German consumers pay the highest electricity prices in an international comparison. This is the result of a price analysis of 135 countries, which the comparison portal Verivox carried out with data from the energy service Global Petrol Prices. The price of electricity in this country has more than doubled since the turn of the millennium.

Electricity prices in Germany over 2.5 times more expensive than the international average

The price data show that electricity in Germany is on average 163 percent more expensive than in the rest of the world. Consumers in Germany have to pay 32.10 cents per kilowatt hour - the international average is only 12.22 cents. Our neighboring country Denmark follows in second place. Here the kilowatt hour costs 27.81 cents. The Bahamas (27.73 cents), Belgium (26.60 cents), Portugal (26.40 cents), Cape Verde (24.94 cents), Japan (24.65 cents), Barbados (24 , 48 cents), Rwanda (23.86 cents) and Ireland (23.70 cents).

In a global comparison, electricity is cheapest in Sudan. Here, a kilowatt hour costs 0.24 cents, followed by Ethiopia (0.90 cents). In Kyrgyzstan (1.03 cents), Zimbabwe (1.22 cents), Libya (1.24 cents), Angola (1.77 cents), Oman (2.30 cents), Iraq and Kuwait (2.59 cents each ) and Uzbekistan (2.66 cents), the costs are also in the low cents range.

In other large industrialized countries, too, electricity is sometimes considerably cheaper than in Germany. For example, private consumers in the USA have to pay 13.03 cents for a kilowatt hour, not even half of what consumers in this country should shoulder. In Saudi Arabia, Russia, Mexico, China, India, Argentina, Indonesia, Turkey, Canada and South Korea, less than 10 cents per kilowatt hour of electricity are due.

Adjusted for purchasing power: Germany's most expensive G-20 country

Even if the different price levels between the countries are taken into account, Germany ranks 16th in the global electricity price comparison, adjusted for purchasing power, and is therefore the most expensive G-20 country. Italy and Turkey follow at a distance. In a comparison adjusted for purchasing power, electricity is most expensive in Rwanda, followed by Nicaragua and Burkina Faso. It is cheapest in Sudan, Ethiopia and Zimbabwe.

The German electricity price has more than doubled

Verivox has been collecting electricity price data for Germany since 2004 and, in addition to the basic supply prices, also takes into account the prices of the 30 most important national suppliers, weighted according to the switching rates of the Federal Network Agency. According to Verivox calculations, the value for Germany in March 2020 is slightly lower at 30.14 cents / kWh, but Germany cannot be displaced from the first place among the most expensive electricity countries, even according to this calculation.

"Since the turn of the millennium, electricity costs in this country have more than doubled," says Thorsten Storck, Verivox's energy expert. "This is mainly due to the high proportion of taxes, levies and charges, which now make up more than 50 percent of the electricity price." For example, the EEG surcharge, which finances the expansion of renewable energies, has increased more than tenfold since 2004.

methodology

Global Petrol Prices analyzes the price offers from selected electricity providers and uses them to create a national average. In order to do justice to the country-specific characteristics (market shares, average consumption), the economists at Global Petrol Prices also include data from state authorities. Only countries for which data are available from several independent and trustworthy sources are analyzed.

In order to also take into account the different price levels of the countries, Verivox has converted the electricity prices into the common artificial currency "International Dollar" with the help of the conversion factors for purchasing power parity (PPP) published by the World Bank in 2019. In a comparison adjusted for purchasing power, Germany ranks 16th.

In addition to the basic supply prices, the Verivox electricity consumer price index also takes into account the prices of the 30 most important supra-regional suppliers and weights them according to the switching rates of the Federal Network Agency.

Press contact:

Lundquist Neubauer, Tel .: +49 173 9550419; +49 (0) 30 23328 - 155
[email protected]

Original content from: Verivox GmbH, transmitted by news aktuell