The United Kingdom has the world’s 6th highest expensive price for energy per kilowatt. The cost (£0.39) is almost double the average in Europe (£0.23).
The Underfloor Heating Store, the UK’s biggest supplier of electric and water underfloor heating systems, has created an interactive map to demonstrate the cost of a kilowatt around the world.
David Johnson, Technical and Category Manager at The Underfloor Heating Store, said: “Considering that around 85% of households in the UK continue to rely on gas boilers to heat their homes, and with approximately 40% of electricity still generated at gas-fired stations, it’s really no surprise that prices have risen so extremely in recent years and that the UK has the 6th most expensive energy in the world.”
Comparing the price of electricity in the United Kingdom (£0.39 per kWh), to that of Lebanon, the country with the cheapest cost of electricity (£0.0016 per kWh), Britons pay an astounding 243.75% more.
Energy Prices Around the World: A Comparison
With electricity and energy being a frequent topic of discussion in the news and within society, many people are understandably worried about their energy consumption and the subsequent cost.
While many countries have been affected by the price hike, the UK has been impacted significantly.
But just how much more are electricity prices here compared to the rest of the world?
The Underfloor Heating Store has created an interactive map to demonstrate how much a kilowatt of energy costs in 194 countriesand what the cost of running a small, medium-sized or large household is.
Energy Prices in the UK
In the UK, we’re unfortunately experiencing life as one of the world’s most expensive energy countries. While we may not be in the top five most expensive countries out of 194 countries, Britain has the 6th most expensive cost per kilowatt globally, after the Solomon Islands, Vanuatu, Benin, Denmark and Germany.
The price of a kilowatt in the UK is £0.39, almost double the European average of £0.23.
According to the Energy Saving Trust, our energy prices are so high because the demand for gas increased after the pandemic and due to a shortage. Prices rose in 2021, and after Russia invaded Ukraine, they increased further. Since electricity prices are directly linked to gas prices, they also soared.
Click HERE to Use the Interactive Map
To use, hover over a country, and you’ll see a breakdown of the cost of energy usage in each country and the average spend per household size. The typical energy use for each household size is as follows:
- Small household (flat or 1-bedroom house with 1-2 people): 1800 kWh.
- Medium household (2-3 bedroom house with 2-3 people): 2900 kWh.
- Large household (4+ bedroom house with 4-5 people): 4300 kWh.
We’ve also listed the countries from cheapest to most expensive, with #1 being the least expensive, and so on.
The Five Countries with the Most Expensive Energy in the World
The top five countries with the most expensive energy, based on the cost per kilowatt, are the Solomon Islands, Vanuatu, Benin, Denmark and Germany.
The Five Countries with the Cheapest Electricity Prices in the World
The top five countries with the least expensive energy, based on the cost per kilowatt, are Lebanon, Libya, Iran, Zimbabwe and Ethiopia.
The Average Cost of Electricity per Continent
Asia was the continent found to have the lowest cost of a kilowatt on average. This means that medium-sized households are spending approximately £178.24 annually – just 5% of their yearly income.
Oceania has the most expensive energy of all the continents, with an average of £0.26 per kilowatt. From this, we determined that medium-sized households will be spending around £768.23 annually, which is a huge 38% of their yearly income spent on energy alone.
North and South America were found respectively to have the fourth and third cheapest price per kilowatt globally. The average price of a kilowatt in South America was found to be £0.11, with the average medium-sized household spending 8% of the average annual income on energy costs. In North America, the average price of a kilowatt was £0.1815, with medium-sized households spending 13% of their yearly annual income on electricity.
Europe came in as a close second for the most expensive energy with an average of £0.23 per kilowatt. However, this takes away just 6% of the average yearly salary, while in Africa the cost of energy is £0.10 per kilowatt, spending an average of 29% of their income.