Where are electricity prices lowest in Europe?

5 January 2023 zainliaquat10

Which electricity supplier is the cheapest? This question has been bothering Europeans since the start of the energy crisis in 2021. In this article you will discover that colossal differences exist between European countries since the introduction of support measures. We compared the prices of electricity contracts for individuals in 20 countries. The price of the cheapest electricity contract can vary by 870% depending on the country. It is in Greece that we currently find the cheapest electricity prices (€78/year for 1000 kWh) and in Ireland that they are the most expensive (€682/year for 1000 kWh).

for 1,000 kWh

Summary

Methodology
Where are the cheapest electricity suppliers in Europe?
Where are the most expensive electricity suppliers in Europe?
Raw results
Sources

Electricity Supplier Comparison Methodology

To carry out this study, we reviewed approximately 1,000 electricity supply contracts in 20 European countries. We relied on two sources of information:

the official comparators made available by the authorities when they existed
commercial comparators when official comparators were not available

The list of comparators used is available at the end of this article.

The electricity price comparison was based on one and the same consumption estimate: 1000 kWh/year. This corresponds to the consumption of a single person in a small apartment (<50m²) for which the heating is not electric.

We have systematically indicated the capital of the country in question as the delivery point. Prices may vary from region to region.

When differentiated tariffs were available, we indicated consumption of 500 kWh at daytime tariff and 500 kWh at nighttime tariff.

We noted for each country:

the cheapest rate, excluding the supplier’s promotion
the most expensive price

And then calculated an average price per kWh. The price statement was made on 09/17/22.

Where are the cheapest electricity suppliers in Europe?

We were surprised to find that electricity prices vary greatly from one European Union country to another to find a ghostwriting companies. In this period of energy crisis, various mechanisms have indeed been put in place to help citizens. These aids are reflected in the rates offered.

Very significant differences from one country to another

What is striking first of all are the very large differences from one country to another. The aid policies of EU countries have created very different situations. The electricity contract is thus 8 times more expensive in Ireland than in Greece.

Greece, the country where electricity is the cheapest

In Greece, government aid reaches €0.639/kWh, which allows residents to currently benefit from the cheapest electricity in Europe. The ΕΛΙΝΟΙΛ company can thus offer a contract at an unbeatable price: €78/year.

Ireland, Italy, Germany: the countries where electricity is the most expensive

It is in Ireland that the inhabitants are the worst off. Measures are under consideration but have not yet been implemented. This explains why the price of kWh in Ireland is so high (€0.68).
The situation is hardly more enviable in Germany (€0.66) and Italy (€0.64).

An average of €347/year for the cheapest contracts

Being a convenience, it seemed particularly interesting to us to average the least expensive contracts. It appears that the average price of the cheapest electricity is €347/year in the 20 countries studied.

The following countries are above the average: Lithuania (€424), Italy (€636), Ireland (€682), Finland (€374), Belgium (€454), Austria (€522), Germany (667 €).

Where are the most expensive electricity suppliers in Europe?

At the other end of the spectrum, there are also the most expensive electricity contracts.
As the market has been liberalized, small companies have been able to establish themselves in certain markets to establish themselves as alternative suppliers. Their business model is based on wholesale purchases from producers and resale to individuals or SMEs. This model works when prices are stable, but leads to disasters when wholesale prices rise and these increases cannot be passed on to end customers. Several resounding bankruptcies have already punctuated the news. In France, Hydration and Bulb Energy went bankrupt.

147 offers in Italy… and a contract at nearly €2,400/year!

Italy is the country where we found the most offers: 147. Some are offered by small companies, structured as Sal (limited liability Company).

The contracts offered are sometimes uncompetitive, even prohibitive, such as that of For Green Spa This is a fixed price contract (one of the best Novel Ghostwriter on the market). Uncertainty about changes in wholesale prices comes at a high price. If you want to avoid these variations for 1 year, it will cost you €2.39 per kWh.

In some countries the price differences are reduced

While the differences can be stratospheric between the most expensive and the least expensive contract, in some countries the treatments are more “egalitarian”.

In Luxembourg, for example, the most expensive contract (at Electric) costs “only” 28% more than the cheapest (at Sudstroum). The situation is relatively similar in Ireland (47% difference) and Slovakia (48%).