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Ireland, Italy, and Belgium had some of the highest household electricity prices worldwide, as of December 2023. At the time, Irish households were charged around 0.47 U.S. dollars per kilowatt-hour, while in Italy the price stood at 0.45 U.S. dollars per kilowatt-hour. By comparison, in the United States, residents paid almost three times less.
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.
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 top importers of natural gas in Europe in 2022 were Italy and Germany, where this energy source constitutes a relevant share of the power mix.
Electricity can be generated in two main ways: by harnessing the heat from burning fuels or nuclear reactions in the form of steam (thermal power) or by capturing the energy of natural forces such as the sun, wind or moving water.
Unlike other energy commodities such as coal, oil and natural gas, electricity trade between countries is relatively limited as it is more technically complex and requires a direct cross-border interconnection. Such connections can help to balance out supply and demand across regions, which will be increasingly important as variable renewables like solar and wind make up a larger share of electricity generation.
Power generation, which includes electricity and heat, is one of the largest sources of CO2 emissions globally, primarily from the burning of fossil fuels like coal and natural gas in thermal power plants.
Growth in electricity demand has slowed down or even reversed in many advanced economies due to energy efficiency efforts and the shift towards less energy-intensive forms of economic activity, such as services. But it is still growing rapidly in many emerging market and developing countries, especially those where a significant fraction of the population still lacks access to electricity.
Electricity is primarily used for heating, cooling, lighting, cooking and to power devices, appliances and industrial equipment. Further electrification of end-uses, especially transportation, in conjunction with the decarbonisation of electricity generation, is an important pillar of clean energy transitions.
We all need access to stable and affordable electricity in our homes in order to be comfortable and productive. Be it for the purposes of lighting up the home at night, keeping the fan/air conditioner on amid the heat or even for more essential things such as charging phones/laptops and keeping the freezer frozen, African households really cannot do without electricity.
Unfortunately, not only is electricity supply across most African countries unstable, the price for it can also be quite expensive. This is especially so when juxtaposed with some metrics such as the average salaries and GDP per capita in these countries.
Do note that the information used here is courtesy of Statista, the global markets and consumer data company based in Hamburg, Germany. The available statistics is dated Q1 2021 and is based on the hourly price rates for electricity across Africa.
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