Estimates from the voluntary fortnightly business survey (BICS) showing the impacts of energy price rises on accommodation and the food service activities and other industries.

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.

The average wholesale electricity price in July 2025 in the United Kingdom is forecast to amount to****** British pounds per megawatt-hour, a decrease from the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged ***** British pounds per megawatt-hour.
Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

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.

The Electricity Supply industry has developed considerably since its liberalisation in 1999. Following a period in which the Big Six suppliers dominated, energy regulator Ofgem endeavoured to introduce greater competition to the market as part of attempts to drive down energy bills. Major mergers and acquisitions effectively brought the dominance of the former Big Six suppliers to an end at the end of 2019-20. Along with weakening electricity consumption, swelling competition has applied further pressure on revenue in recent years. Electricity suppliers' revenue is slated to climb at a compound annual rate of 4.7% to reach £49.8 billion over the five years through 2024-25. The introduction of the standard variable tariff price cap in January 2019 squeezed revenue growth. The pandemic exacerbated the drop in revenue, as widespread tariff reductions compounded the effects of reduced electricity consumption. With suppliers bound by the energy price cap, soaring wholesale prices led to widening operating losses in 2021-22, albeit with a modest revenue recovery. A renewed spike in wholesale prices led to a continued wave of insolvencies among energy suppliers going into 2022-23, with 31 suppliers falling victim to the energy crisis. Soaring non-domestic energy bills and significant hikes to the SVT price cap spurred significant revenue growth in 2022-23, while the transfer of customer accounts from failed suppliers reinstated the dominance of major suppliers. The introduction of the Energy Price Guarantee (EPG) and support for business energy customers prevented energy prices from spiralling out of control going into 2023-24. A faster-than-anticipated drop in wholesale electricity prices has eased pressure on operating profit in the current year, contributing to an estimated 10.1% revenue contraction. Revenue is forecast to sink at a compound annual rate of 0.9% to £47.6 billion over the five years through 2029-30. Prices will remain elevated in the medium term as concerns surrounding supplies of Russian fossil fuels into Europe inflate wholesale costs. Wholesale prices are set to stabilise in the long term, spurring tariff reductions. The continued drop in electricity consumption is also set to limit growth prospects in the coming years.

CPI energy intensity of household purchases, COICOP class level categories, UK.

Cabo Verde recorded the highest electricity price for households in Africa. As of June 2024, one kilowatt-hour costs around **** U.S. dollars in the country. Kenya and Sierra Leone followed, with households paying **** and **** U.S. dollars per kilowatt-hour, respectively. Mail, Burkina Faso, and Gabon also recorded relatively higher prices for electricity on the continent. On the other hand, Egypt, Zambia, Angola, and Libya registered the lowest prices for electric energy in Africa. Countries usually retain high prices for household and business electricity In Africa, countries with high electricity prices for households also tend to have higher prices for businesses. For instance, Cabo Verde, Burkina Faso, and Kenya’s energy prices for companies placed them among the most expensive four countries on the continent. As of late 2023, the electricity prices stood at around ***, ***, and **** U.S. dollars per kilowatt-hour, respectively. Electricity access and reliability vary across the continent A significant share of Africans still live with no access to electricity. Although almost all of North Africa's population had access to electricity, the other regions had lower electricity access in 2021. Western, Southern, and Eastern Africa had just over ** percent of their citizens living in electrified areas, while in Central Africa it stood at around ** percent. Nevertheless, according to a survey, two Eastern African countries ranked highest with the most reliable electricity supply on the continent. Between 2021 and 2023, some ** percent of Mauritians and ** percent of Seychellois reported having a supply that worked most or all the time.

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Electricity prices for businesses amounted to *** cents per kilowatt-hour on the U.S. dollar in China in June 2024. Business electricity prices decreased in the country from over **** cents per kilowatt-hour in June 2020. Household electricity in China was cheaper, amounting to *** cents per kilowatt-hour in March 2024. Overhauling price calculation Since its liberalization of the state electricity market, the National Development and Reform Commission introduced an overhaul of the electricity pricing model in mid-2023. Based on the premise of “cost plus reasonable profit” the reforms were aimed at introducing fairer and more transparent rates while also promoting more efficient utilization of the electricity grid. In the new system, businesses enjoy lower electricity rates if they use higher voltages, reflecting a more accurate distribution of grid utilization costs. Competition in industrial policy For many years, the Chinese government has been accused of using subsidized electricity prices to give domestic companies an advantage on the world market. In the EV race, they come up again. To accelerate the industrialization of the country, policymakers have set up ambitious development goals and created the necessary framework to achieve them. For instance, electric battery manufacturers could utilize significant government support. However, often, subsidies like preferential electricity prices are difficult to prove, and in response to European and American accusations, Beijing points to the Inflation Reduction Act in the U.S. and similar subsidy programs in the European Union.

This indicator is defined as the ratio between energy tax revenues and final energy consumption calculated for a calendar year. Energy tax revenues are measured in euro (deflated) and the final energy consumption as toe (tonnes of oil equivalent)

The UK's energy use by industry (SIC 2007 group - around 130 categories), source (for example, industrial and domestic combustion, aircraft, road transport and so on - around 80 categories) and fuel (for example, anthracite, peat, natural gas and so on - around 20 categories), 1990 to 2023.

This table contains figures on consumer prices for electricity and gas. These are subdivided into transport prices, delivery prices and taxes (including and excluding VAT). The figures are published as weighted average monthly prices. The average energy prices published here are the prices as used for the consumer price index (CPI) up to and including May 2023. Prices of new contracts were observed at the CPI. Contracts that were offered by energy companies in previous periods, but not in the relevant reporting period, have been mathematically continued and included in the calculation of the average tariff. The average prices in this table may therefore deviate from the average prices that Dutch households pay for energy. Data available from January 2018 to May 2023. Status of the figures: The data are final. Changes as of July 20, 2023: None, this table has been discontinued. Due to a change in the underlying data and associated method for calculating average energy rates, a new table will be published on 20 July. See section 3. Changes as of February 13, 2023: From January 2023, the average delivery rates will not be published. With the introduction of the price cap, the average energy rates (supply rates) of fixed and variable energy contracts together were very useful to calculate a development for the CPI. As a price point, however, they are less useful. The delivery rates from January 2023 to May 2023 are published in a custom table based on the data for new variable contracts. When will new numbers come out? Not applicable anymore.

UK Gas rose to 85.31 GBp/thm on July 11, 2025, up 1.32% from the previous day. Over the past month, UK Gas's price has fallen 0.15%, but it is still 17.29% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on July of 2025.

On-highway diesel price is the average retail price for diesel used in motor vehicles. The U.S. Energy Information Administration releases weekly gasoline and diesel price estimates.

United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: On-Highway Diesel Fuel data was reported at 0.203 % in 12 May 2025. This stayed constant from the previous number of 0.203 % for 05 May 2025. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: On-Highway Diesel Fuel data is updated weekly, averaging 0.114 % from Feb 2020 (Median) to 12 May 2025, with 274 observations. The data reached an all-time high of 11.899 % in 15 Feb 2021 and a record low of 0.000 % in 14 Apr 2025. United States Retail Sales Nowcast: sa: YoY: Contribution: Energy Prices: Diesel Retail Price: On-Highway Diesel Fuel data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s United States – Table US.CEIC.NC: CEIC Nowcast: Retail Sales.

Norway Tax on Consumption of Electric Energy data was reported at 16.600 Ore/kWh in Mar 2018. This records an increase from the previous number of 16.300 Ore/kWh for Dec 2017. Norway Tax on Consumption of Electric Energy data is updated quarterly, averaging 13.700 Ore/kWh from Mar 2012 (Median) to Mar 2018, with 25 observations. The data reached an all-time high of 16.600 Ore/kWh in Mar 2018 and a record low of 11.400 Ore/kWh in Dec 2012. Norway Tax on Consumption of Electric Energy data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.P005: Electricity Price, Grid Rent and Taxes: Households.

In the second half of 2022, electricity prices in Denmark rose sharply. Household electricity prices in Denmark averaged 58.7 euro cents per kilowatt-hour for a consumption band between 2,500 and 5,000 kilowatt-hours and 60.95 euro cents per kilowatt-hour for a consumption band between 1,000 and 2,500 kilowatt-hours. However, prices were on a declining trend in 2023. Electricity prices in Europe Electricity consumers in the capital city of Denmark, Copenhagen, paid one of the highest value added taxes on electricity in Europe as of May 2023, amounting to 20 percent of the residential end-user price. However, the final residential electricity price in the Nordic country was considerably lower than in other European countries, such as Italy and Germany, where prices surpassed 0.4 U.S. dollars per kilowatt-hour in June 2023. Electricity sources in Denmark During the 2022 energy crisis, the growth in electricity prices in European countries was correlated with their dependence on fossil fuel imports. The dominance of wind power and bioenergy in Denmark's electricity production made the country less vulnerable to the instability of the global power market.

This study investigates the relationship between consumer sentiment (CONS), inflation expectations (INEX) and international energy prices, drawing on principles from behavioral. We focus on Brent crude oil price and Henry Hub natural gas prices as key indicators of energy market dynamics. Based on the monthly data from January 2003 to March 2023, three wavelet methods are applied to examine the time-frequency linkage, while the nonlinear distributed lag model (NARDL) is used to verify the asymmetric impact of two factors on energy prices. The results highlight a substantial connection between consumer sentiment, inflation expectations and international energy prices, with the former in the short term and the latter in the medium to long term. Especially, these correlations are particularly pronounced during the financial crisis and global health emergencies, such as the COVID-19 epidemic. Furthermore, we detect short-term asymmetric effects of consumer sentiment and inflation expectations on Brent crude oil price, with the negative shocks dominating. The positive effects of these factors on oil prices contribute to observed long-term asymmetry. In contrast, inflation expectations have short-term and long-run asymmetric effects on natural gas price, and both are dominated by reverse shocks, while the impact of consumer sentiment on natural gas prices appears to be less asymmetric. This study could enrich current theories on the interaction between the international energy market and serve as a supplement to current literature.