Industrial sector electricity prices in selected European countries
At 6.77 euro-cents per kilowatt hour, the Czech Republic has some of the cheapest industrial sector electricity rates, reaching less than half that of Malta’s. Malta’s industrial sector electricity price is among the highest in the European Union, reaching 13.53 euro-cents per kilowatt hour in December 2017. Compared to other countries, some EU member states have very high electricity prices overall. Electricity prices in Italy are in excess of 15 U.S. dollar cents per kilowatt hour while Canada’s electricity prices average about 7.23 U.S. dollar cents per kilowatt hour.
Power tariffs can vary by a large range by country - and often within individual countries as well. Differences in prices are due to a range of factors such as market price of fuel used, subsidies, and industry regulation. Supply and demand are also highly influential in changing prices. Certain weather patterns, such as high heat, can also raise prices when use of air conditioning becomes more prevalent. In virtually all markets, like that of the European Union, electricity rates also vary for industrial, residential, and commercial customers. Since expenditures for power can slab off a fair amount of a company’s revenue, industrial electricity tariffs – particularly when it comes to power-intensive industries, including the cement or metal manufacturing sectors - are often lower than residential rates. Household electricity prices are among the highest in Denmark, where those with an annual consumption of 1,000 to 2,500 kilowatt hours must pay about 33 euro-cents per kilowatt hour.