Ireland, Italy, and Germany had some of the highest household electricity prices worldwide, as of March 2025. At the time, Irish households were charged around 0.45 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.43 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.

In September 2024, industrial electricity prices in the European countries of Germany, Italy, and the United Kingdom were among the highest in the world, at around **** U.S. dollars per kilowatt-hour. Singapore was the Asian country with the highest electricity bill worldwide at that time. Lowest electricity prices in the world The average retail electricity price in the United States was considerably lower than in most of Europe. Iceland was the European country with one of the lowest electricity bills for enterprises that month. At the bottom of the ranking were also Russia, Iraq, Qatar, Argentina, and Libya. In these countries, commercial electricity prices amounted to less than *** U.S. dollars per kilowatt-hour. Household electricity prices In addition, European countries had the highest household electricity prices worldwide that month, with Italy at the top of the ranking. By comparison, Iran and Ethiopia had the lowest residential electricity prices in the world.

The global energy price index stood at around 101.5 in 2024. Energy prices were on a decreasing trend that year, and forecasts suggest the price index would decrease below 80 by 2026. Price indices show the development of prices for goods or services over time relative to a base year. Commodity prices may be dependent on various factors, from supply and demand to overall economic growth. Electricity prices around the world As with overall fuel prices, electricity costs for end users are dependent on power infrastructure, technology type, domestic production, and governmental levies and taxes. Generally, electricity prices are lower in countries with great coal and gas resources, as those have historically been the main sources for electricity generation. This is one of the reasons why electricity prices are lowest in resource-rich countries such as Iran, Qatar, and Russia. Meanwhile, many European governments that have introduced renewable surcharges to support the deployment of solar and wind power and are at the same time dependent on fossil fuel imports, have the highest household electricity prices. Benchmark oil prices One of the commodities found within the energy market is oil. Oil is the main raw material for all common motor fuels, from gasoline to kerosene. In resource-poor and remote regions such as the United States' states of Alaska and Hawaii, or the European country of Cyprus, it is also one of the largest sources for electricity generation. Benchmark oil prices such as Europe’s Brent, the U.S.' WTI, or the OPEC basket are often used as indicators for the overall energy price development.

This dataset provides values for ENERGY PRICES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Graph and download economic data for Global price of Energy index (PNRGINDEXM) from Jan 1992 to May 2025 about energy, World, indexes, and price.

This dataset provides values for ELECTRICITY PRICE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Middle Eastern and African countries had the cheapest electricity prices worldwide in December 2024. Namely, the electricity price for Iran's households was only 0.4 U.S. cents per kilowatt-hour of electricity. Ethiopia, Syria, Cuba, and Sudan also had some of the lowest electricity prices worldwide that month.

Onshore wind is a popular and affordable way of generating electricity globally. As of the first half of 2020, this technology was the most affordable energy-producing source in the United States, where the levelized cost of energy (LCOE) totaled around 37 U.S. dollars per megawatt generated. As of that time, Japan was still greatly relying on fossil fuel sources, as coal-generated power was the cheapest energy source.

The retail price for electricity in the United States stood at an average of ***** U.S. dollar cents per kilowatt-hour in 2024. This is the highest figure reported in the indicated period. Nevertheless, the U.S. still has one of the lowest electricity prices worldwide. As a major producer of primary energy, energy prices are lower than in countries that are more reliant on imports or impose higher taxes. Regional variations and sector disparities The impact of rising electricity costs across U.S. states is not uniform. Hawaii stands out with the highest household electricity price, reaching a staggering ***** U.S. cents per kilowatt-hour in September 2024. This stark contrast is primarily due to Hawaii's heavy reliance on imported oil for power generation. On the other hand, states like Utah benefit from lower rates, with prices around **** U.S. cents per kilowatt-hour. Regarding U.S. prices by sector, residential customers have borne the brunt of price increases, paying an average of ***** U.S. cents per kilowatt-hour in 2023, significantly more than commercial and industrial sectors. Factors driving price increases Several factors contribute to the upward trend in electricity prices. The integration of renewable energy sources, investments in smart grid technologies, and rising peak demand all play a role. Additionally, the global energy crisis of 2022 and natural disasters affecting power infrastructure have put pressure on the electric utility industry. The close connection between U.S. electricity prices and natural gas markets also influences rates, as domestic prices are affected by higher-paying international markets. Looking ahead, projections suggest a continued increase in electricity prices, with residential rates expected to grow by *** percent in 2024, driven by factors such as increased demand and the ongoing effects of climate change.

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Pakistan Energy Prices: Compared to Nxt 6 Mos: Positive data was reported at 15.460 % in Sep 2018. This records an increase from the previous number of 4.450 % for Jul 2018. Pakistan Energy Prices: Compared to Nxt 6 Mos: Positive data is updated monthly, averaging 3.520 % from Jan 2012 (Median) to Sep 2018, with 41 observations. The data reached an all-time high of 15.460 % in Sep 2018 and a record low of 0.600 % in Nov 2013. Pakistan Energy Prices: Compared to Nxt 6 Mos: Positive data remains active status in CEIC and is reported by State Bank of Pakistan. The data is categorized under Global Database’s Pakistan – Table PK.H003: Consumer Confidence Survey.

Brazil Difference Settlement Price - PLD: PLDX data was reported at 165.270 BRL/MWh in 2024. This records a decrease from the previous number of 174.460 BRL/MWh for 2023. Brazil Difference Settlement Price - PLD: PLDX data is updated yearly, averaging 156.900 BRL/MWh from Dec 2017 (Median) to 2024, with 8 observations. The data reached an all-time high of 178.440 BRL/MWh in 2022 and a record low of 108.070 BRL/MWh in 2017. Brazil Difference Settlement Price - PLD: PLDX data remains active status in CEIC and is reported by Chamber of Electric Energy Commercialization. The data is categorized under Brazil Premium Database’s Prices – Table BR.PF007: Difference Settlement Price - PLD: Submarket: Annual.

Pakistan Energy Prices: Compared to Last 6 Mos: Negative data was reported at 52.660 % in Jul 2018. This records an increase from the previous number of 43.890 % for May 2018. Pakistan Energy Prices: Compared to Last 6 Mos: Negative data is updated monthly, averaging 44.000 % from Jan 2012 (Median) to Jul 2018, with 40 observations. The data reached an all-time high of 70.950 % in Jan 2012 and a record low of 25.600 % in Mar 2016. Pakistan Energy Prices: Compared to Last 6 Mos: Negative data remains active status in CEIC and is reported by State Bank of Pakistan. The data is categorized under Global Database’s Pakistan – Table PK.H003: Consumer Confidence Survey.

This map shows electricity access in Asia and the Pacific. The data source is from the International Energy Agency’s World Energy Outlook. The International Energy Agency’s World Energy Outlook first constructed a database on electrification rates for WEO-2002. The database once again was updated for WEO-2015, showing detailed data on national, urban and rural electrification.

The general paucity of data on electricity access means that it must be gathered through a combination of sources, including: IEA energy statistics; a network of contacts spanning governments, multilateral development banks and country-level representatives of various international organisations; and, other publicly available statistics, such as US Agency for International Development (USAID) supported DHS survey data, the World Bank’s Living Standards Measurement Surveys (LSMS), the UN Economic Commission for Latin America and the Caribbean’s (ECLAC) statistical publications, and data from national statistics agencies. In the small number of cases where no data could be provided through these channels other sources were used. If electricity access data for 2013 was not available, data for the latest available year was used.

For many countries, data on the urban and rural breakdown was collected, but if not available an estimate was made on the basis of pre-existing data or a comparison to the average correlation between urban and national electrification rates. Often only the percentage of households with a connection is known and assumptions about an average household size are used to determine access rates as a percentage of the population. To estimate the number of people without access, population data comes from OECD statistics in conjunction with the United Nations Population Division reports World Urbanization Prospects: the 2014 Revision Population Database, and World Population Prospects: the 2012 Revision. Electricity access data is adjusted to be consistent with demographic patterns of urban and rural population. Due to differences in definitions and methodology from different sources, data quality may vary from country to country. Where country data appeared contradictory, outdated or unreliable, the IEA Secretariat made estimates based on cross-country comparisons and earlier surveys.

The US natural gas market, a significant component of the global energy landscape, is projected to experience robust growth over the forecast period (2025-2033). Driven by increasing demand from the power generation sector, a shift towards cleaner energy sources (compared to coal), and ongoing industrialization, the market is poised for expansion. The abundance of shale gas reserves within the US contributes significantly to this growth, making the nation a key player in global natural gas production and trade. While challenges exist, such as fluctuating prices influenced by global supply chains and environmental concerns regarding methane emissions, technological advancements in extraction and infrastructure development are mitigating these risks. The residential sector also contributes to market growth, albeit at a slower rate compared to power generation and industrial applications. Competition among major players like ExxonMobil, Chevron, and ConocoPhillips, fuels innovation and efficiency improvements within the industry. The market segmentation by gas type (wet and dry) further reflects the diverse applications and evolving needs of consumers and industries. Assuming a conservative CAGR of 5% based on the provided information, and a 2025 market size of approximately $300 billion (a reasonable estimate considering the scale of the US energy market), we can project substantial growth throughout the forecast period. Growth is expected to be most pronounced in regions with strong industrial activity and expanding power grids. The specific growth trajectory will depend on factors such as government policies promoting natural gas utilization (or potentially phasing it out), technological advancements, and global geopolitical events impacting energy prices. Nonetheless, the US natural gas market is expected to maintain its position as a major contributor to the national energy supply and a significant player in the global energy market. Further analysis of specific segments (e.g., wet vs. dry natural gas within each end-use sector) would provide more granular insights into market dynamics and investment opportunities. The overall outlook remains positive, projecting significant value creation and economic benefits over the next decade. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Notable trends are: Power Generation Segment to Dominate the Market.

The global power market, currently valued at approximately $XX million (assuming a reasonable market size based on industry averages and the provided CAGR), is projected to experience robust growth, with a compound annual growth rate (CAGR) of 4.89% from 2025 to 2033. This expansion is driven by several key factors. Increasing global energy demand fueled by population growth and industrialization in developing economies necessitates significant investment in power generation and distribution infrastructure. The rising adoption of renewable energy sources, driven by environmental concerns and government policies promoting sustainable energy, is another major driver. Technological advancements in energy storage solutions and smart grids are further enhancing efficiency and grid stability, contributing to market growth. However, challenges remain, including the volatile price of fossil fuels, regulatory hurdles in different regions, and the intermittency associated with renewable energy sources. These factors necessitate strategic planning and investment in grid modernization and diversification of energy sources to ensure a reliable and sustainable power supply. The competitive landscape is dominated by large, established players such as State Grid Corporation of China, Engie SA, and Electricite de France, alongside other significant regional players. These companies are actively involved in expanding their capacity, investing in renewable energy projects, and adopting innovative technologies to maintain a competitive edge. The market is segmented by various factors including energy source (renewable vs. non-renewable), technology (solar, wind, nuclear, thermal), and region. The regional distribution is likely to vary significantly, with regions like Asia-Pacific exhibiting faster growth compared to more mature markets in North America and Europe. The forecast period of 2025-2033 promises continued growth, driven by increasing energy demand and policy support for renewable energy transition. This trend necessitates ongoing adaptation and innovation within the industry to meet the evolving energy needs of a growing global population while addressing sustainability concerns. Recent developments include: In April 2023, ArcelorMittal announced that the company's Brazilian entity, ArcelorMittal Brazil, formed a joint venture with the Brazilian renewable energy company Casa dos Ventos to develop the 554 MW Babilonia wind power project. The project will be developed for USD 800 million in the central region of Bahia, northeast Brazil. ArcelorMittal will hold a 55% share in the joint venture, and Casa dos Ventos will have the remaining share., In April 2023, the Indian government sanctioned the construction of ten nuclear reactors in five Indian states. The center has granted administrative and financial approval for a fleet of ten indigenous 700 MW pressurized heavy water reactors. The ten reactors will be built in the states of Karnataka, Haryana, Madhya Pradesh, and Rajasthan., July 2022: Dubai Electricity and Water Authority (DEWA) announced that the company aims to develop 4GW renewable energy projects with the Independent Power Producer (IPP). The total investment required in the projects would be more than AED 40 billion. DEWA is developing a solar project IPP model, The Mohammed bin Rashid Al Maktoum Solar Park. The project will have a production capacity of 5,000 MW by 2030.. Key drivers for this market are: 4., Growing Electricity Generation along with Energy Consumption Demand4.8.; Increasing adoption of Renewable Energy. Potential restraints include: 4., Growing Electricity Generation along with Energy Consumption Demand4.8.; Increasing adoption of Renewable Energy. Notable trends are: Thermal Source for Power Generation to be the Largest Market.

About the project Quantifying the determinants of a country’s energy productivity trends answers the fundamental question of whether its economy is becoming more energy productive because of technological and efficiency gains, or whether it is due to structural economic shifts. Using three types of analysis, this paper investigates the drivers of energy productivity changes occurring in 39 countries during 1995-2009. The comparison between countries allows for examining whether demographic and economic characteristics contribute to energy productivity performance and the rates of improvement. The findings of the analysis can help inform policy-making efforts focused on improving energy productivity.Summary Quantifying the determinants of a country’s energy productivity trends answers the fundamental question of whether its economy is becoming more energy productive because of technological and efficiency gains, or whether it is due to structural economic shifts. This paper uses three types of analysis to investigate the drivers of energy productivity changes occurring in 39 countries during the 1995-2009 period. Several key findings about global energy productivity trends emerged: - Sectoral energy productivity improvements from efficiency gains and changes in product mix were the primary drivers behind country level energy productivity improvements. - Structural economic shifts away from industry and towards more service-oriented sectors played a lesser role in aggregate energy productivity improvements. - Nations with similar demographic and economic characteristics showed similar levels of energy productivity and rates of improvement. - Former communist countries and nations undergoing economic liberalization exhibited the highest rates of improvement—although they remain less energy productive than developed nations. - Long-standing hypotheses that higher levels of income per capita and higher energy prices are associated to greater energy productivity are reinforced by the analysis. - Higher levels of investment are also associated with aggregate energy productivity improvements, although the response from the investments may take a few years to materialize.

Oil Market Outlook

The global oil market size was valued at approximately $2.3 trillion in 2023 and is projected to reach around $3.1 trillion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.4%. The market is poised for this growth driven by increasing energy demands and technological advancements in extraction and refining processes. The ascent in urbanization and industrialization, particularly in emerging economies, is also catalyzing the expansion of the oil market. As the world continues to witness an upsurge in energy consumption, oil remains a pivotal component of the global energy mix, underscoring its enduring relevance and potential for growth in the coming years.

One of the primary growth factors for the oil market is the relentless global demand for energy, which is predominantly fueled by developing countries undergoing rapid industrialization and modernization. These nations are experiencing significant infrastructural development, leading to increased consumption of fossil fuels, including oil. Additionally, the expansion of the transportation sector, which is heavily reliant on oil, further propels market growth. The automotive industry, despite a shift towards electrification, still sees a significant proportion of its energy needs being met by oil products such as gasoline and diesel, thereby sustaining demand.

Technological advancements in extraction and refining processes are also key drivers of growth in the oil market. The advent of improved drilling techniques, such as horizontal drilling and hydraulic fracturing, has made it economically viable to tap into previously inaccessible oil reserves. This has significantly boosted the supply side of the market, leading to an increase in production levels. Moreover, innovations in refining processes have enhanced the efficiency and yield of refining operations, resulting in higher output of refined oil products. These technological improvements not only bolster supply but also help reduce the environmental impact of oil extraction and processing activities.

Furthermore, the global geopolitical landscape plays a crucial role in shaping the oil market. Political stability in key oil-producing regions can significantly influence supply chains and pricing structures. For instance, the Middle East, which holds a substantial portion of the world's oil reserves, is often affected by geopolitical tensions that can lead to fluctuations in supply and prices. Additionally, policies and regulations set forth by major economies regarding fossil fuel consumption and emissions standards can either facilitate market expansion or pose challenges to it. Thus, ongoing geopolitical developments and regulatory changes are critical factors affecting the oil market's trajectory.

The integration of Oil and Gas sectors is increasingly becoming a focal point in the global energy landscape. As oil remains a dominant energy source, the synergy between oil and gas industries can lead to enhanced efficiency and innovation. This integration allows for the sharing of technological advancements, such as improved drilling techniques and refining processes, which can be applied across both sectors to optimize resource extraction and processing. Furthermore, the collaboration between oil and gas companies can facilitate the development of comprehensive energy solutions that address both current demands and future sustainability goals. By leveraging their combined expertise, these industries can better navigate the challenges of fluctuating market conditions and regulatory pressures, ultimately contributing to a more resilient and adaptable energy sector.

Regionally, the Asia Pacific region is expected to witness robust growth in the oil market, primarily due to the soaring energy demands of populous countries like China and India. These nations are experiencing rapid economic growth, leading to increased consumption of oil for industrial and transportation purposes. North America, on the other hand, is characterized by technological innovations in oil extraction and production, positioning it as a significant player in the global market. The Middle East & Africa region remains a major supplier of oil, with vast reserves and strategic geopolitical positioning. Europe and Latin America, while also integral to the market, are increasingly turning towards alternative energy sources, which may moderate their growth rates compared to other regions.

Type Analysis

The oil market is segmented into several