There’s one thing that people can universally agree upon: no one enjoys having to pay their utility bills. If you live in a deregulated energy market like the ones Payless Power services in Texas then consider yourself lucky, as you have the option to choose from a variety of providers and determine which one provides you the best rate. But for the rest of us who are stuck with the electricity rate that our area gives us, the monthly disgruntled feeling that comes with paying the utility bill haunts us all. It’s easy to fantasize about living somewhere else without these burdens, so let’s see what electricity prices are like for our friends across the pond and if moving there can offer us any relief.
What are the Latest European Home Electricity Prices?
Average Electricity Price and Trends
Over the last three years, the average price of electricity across all of Europe has stayed around 15 euro cents per kilowatt hour. Though it has only grew 3% from 2016 to 2018, certain countries saw a much more drastic increase. For example, Cyprus tacked on a whopping additional 5 euro cents per kWh over the course of three years, increasing in price by 35%, with a 2018 clock in at 21.83 euro cents per kWh, which is 38% higher than the European average. In 2018 alone, Spain and Norway both added 3 euro cents per kWh, with a respective gain of 14% and 19%, and putting each respectively at 56% and 20% higher than the European average. Needless to say, you should consider crossing Cyprus, Spain and Norway off your list of the most cost effective European countries to run away to.
Top 5 Most Expensive Electricity Prices by Country
While considering which European country to settle down in, it is useful to know the top five most expensive electricity prices by country so as to avoid them. It is no surprise that tourist favorite and densely populated countries such as Denmark, Germany, Belgium, Ireland and Spain had the highest electricity prices in 2018. Denmark was as high as 31 euro cents per kWh, which is 97% higher than the European average! Make sure you pad your budget before hankering down in any of these countries.
Top 5 Least Expensive Electricity Prices by Country
On the other end of the spectrum, Ukraine, Kosovo, Serbia, Georgia, and North Macedonia had the lowest electricity prices last year. Ukraine was as low as 4 euro cents per kWh! That’s 87% less than Denmark, and 74% less than the European average. While it may not be at the top of your dream list, there are plenty of attractions that make going to this country worthwhile. Visit Saint Sophia’s Cathedral and Kamianets-Podilskyi Castle, ground yourself in nature in Klevan’s Tunnel of Love, the Black sea of Odessa, and the Carpathian Mountains, and don’t skip out on eating borscht and salo! With so many things to see and experience in Ukraine, it will be a relief to not have to worry about a high electricity bill each month.
How Does the Electricity Price in the U.S. Compare?
In 2018, the European electricity price climbed to its highest peak at 15.88 euro cents per kWh. To compare the European cost of electricity to how much we are charged in America, simply convert the euro rate to US dollars by multiplying it by the exchange rate:
15.88 euro cents per kWh x 1.13 USD = 17.94 USD cents per kWh.
At 17.94 USD cents per kWh, Europeans have to pay on average almost 6 cents per kWh more than Americans do for their household electricity, or 49.5% more! Now that’s a humbling discovery. It turns out that the current reality of watching travel shows on Netflix from the comfort of your couch is still more cost effective in terms of electricity price than leaving your troubles behind and moving to Europe. Keep that in mind the next time your monthly bill comes around and the familiar disgruntled feeling starts to bubble up.