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Consumers: German households pay comparatively high amounts for electricity

Consumers: German households pay comparatively high amounts for electricity

The comparison portal Verivox has compared electricity prices worldwide. It is comparatively expensive for German households – but another country takes the top spot in the EU.

Electricity prices for household customers in Germany remain high compared to the rest of the world. This emerges from an analysis available to the dpa from the comparison and brokerage portal Verivox, which compared electricity prices in 147 countries. Result: If the different purchasing power in the countries is taken into account, Germany is in 21st place in a comparison of average electricity prices for new customers in the first quarter of 2024. In an analysis at the end of 2021, Germany was still in 15th place.

Electricity is more expensive in several European countries

When adjusted for purchasing power, electricity was most expensive in Sierra Leone, Sri Lanka, Cape Verde, Colombia and Italy. Adjusted for purchasing power, electricity was also more expensive in the European countries of the Czech Republic, Poland, Ireland, Lithuania and Cyprus than in Germany. Among the most important industrialized and emerging countries, Great Britain follows Italy and Germany in 34th place and France in 35th place. Electricity is cheapest in terms of purchasing power in Iran, Ethiopia and Sudan. The Verivox analysis is based on data from the energy price service provider Global Petrol Prices.

Purchasing power indicates the amount of goods that can be purchased with a certain amount of money. With the help of conversion factors from the World Bank, the different purchasing power in the respective countries can be taken into account when making price comparisons.

Electricity in Finland, Canada and Norway costs significantly less

According to Verivox, in many countries with a high standard of living, electricity is at least half cheaper than in this country, adjusted for purchasing power. These included Finland, the USA, Canada and Norway.

If purchasing power is not taken into account, Germany comes in ninth place among the 147 countries. According to this, new customers in this country paid an average of 32.80 cents per kilowatt hour in the first quarter, three percent more than at the end of 2021. At that time, Germany was still in the top spot.

Households in Bermuda paid the most in the first quarter of 2024, the equivalent of 42.52 cents. This is followed by Italy (41 cents), the Cayman Islands, Ireland and Liechtenstein. Electricity costs the least in Iran. The equivalent of 0.23 euro cents was due for a kilowatt hour.

A kilowatt hour costs an average of 23.98 cents across the EU

On average in the EU, a kilowatt hour of electricity cost an average of 23.98 cents for new customers in the first quarter, according to Verivox. Before the energy crisis broke out, it was an average of 19.09 cents in 2021. This means that electricity has become more expensive on average by a good quarter across the EU.

However, there were big differences across the EU. For example, electricity prices in Italy increased by 82 percent and in Ireland by 63 percent. In Germany the increase was 3 percent. Only in Malta, Luxembourg, Spain, Hungary and Portugal have electricity prices either not changed at all or have fallen.

The electricity price in Germany is made up of several components. According to the energy industry association BDEW, procurement and sales accounted for the largest share of 44 percent in February. Taxes, duties and levies accounted for 29 percent. The costs for network fees accounted for 27 percent.

Source: Stern

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