Where are the lowest electricity prices in Europe?

Which electricity supplier is the cheapest? This question has been on the minds of Europeans since the start of the energy crisis in 2021. In this article, you will discover huge differences between European countries since the introduction of support measures. We have compared the prices of electricity contracts for private customers in 20 countries. The price of the cheapest electricity contract can vary by 870% depending on the country. Greece has the cheapest electricity tariffs (78€/year for 1000 kWh), and Ireland is the most expensive (682€/year for 1000 kWh).

Summary

• Methodology
• Where are the cheapest electricity suppliers in Europe?
• Where are the most expensive electricity suppliers in Europe?
• Basic results
• Data source

Methodology for comparing electricity suppliers

We reviewed about 1000 electricity supply contracts in 20 European countries to realize this research. We relied on two sources of information.

• 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 comparison of electricity prices was based on a single 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 can indeed vary from one region to another.

When differentiated tariffs were available, we indicated consumption of 500 kWh in day tariff and 500 kWh in night tariff.

For each country, we have noted:

• the cheapest tariff, excluding the supplier’s promotion
• the most expensive tariff

and then calculated an average price per kWh. The prices were recorded on 17/09/22.

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Where are the cheapest electricity suppliers in Europe?

We were surprised that electricity prices vary greatly between European Union countries. In this period of an energy crisis, different mechanisms have been put in place to help citizens. These aids are reflected in the tariffs proposed.

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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 entered certain markets to establish themselves as alternative suppliers. Their business model is based on buying significant quantities from producers and reselling them to individuals or SMEs. This model works when prices are stable but leads to disaster when wholesale prices rise, and they cannot pass these increases on to end customers. Several high-profile bankruptcies have already occurred. In France, Hydroption and Bulb Energie have gone bankrupt.

Basic results

Sources for comparing electricity prices

• Germany: www.check24.de
• Austria: durchblicker.at
• Belgium: comparateur-energie.be
• Spain: comparador.cnmc.gob.es
• Estonia: elektrihind.ee
• Finland: www.sahkon-kilpailutus.fi
• France: comparateur-offres.energie-info.fr
• Irland: www.bonkers.ie
• Italy: www.ilportaleofferte.it
• Latvia: www.elektroenergija.lv
• Lithuania: skaiciuokle.vert.lt
• Luxembourg: www.calculix.lu
• Norway: www.strompris.no
• Netherlands: www.gaslicht.com
• Poland: optimalenergy.pl
• Portugal: www.comparaja.pt
• Czech Republic: www.kurzy.cz
• Slovakia: www.moneytoo.sk
• Sweden: www.compricer.se