Electricity prices in Germany in a global comparison

Electricity prices in Germany in a global comparison

Electricity prices for household customers in Germany remain high compared to the rest of the world. According to an analysis by Verivox, which compared electricity prices in 147 countries, Germany ranks 21st in the purchasing power comparison of average electricity prices for new customers in the first quarter of 2024. This represents a decline compared to its ranking of 15th at the end of 2021.

In a purchasing power-adjusted comparison, countries such as Sierra Leone, Sri Lanka, Cape Verde, Colombia and Italy were more expensive than Germany. The Czech Republic, Poland, Ireland, Lithuania and Cyprus were also more expensive. The cheapest prices for electricity, adjusted for purchasing power, were recorded in Iran, Ethiopia and Sudan.

The analysis was based on data from Global Petrol Prices. On a purchasing power basis that is not taken into account, Germany ranked 9th out of 147 countries. New customers paid an average of 32.80 cents per kilowatt hour of electricity in the first quarter of 2024, which corresponds to an increase of three percent compared to the end of 2021.

Across the EU, electricity prices rose by an average of a quarter. However, prices varied greatly between countries. Germany saw a three percent increase, while prices in countries such as Italy increased by 82 percent and Ireland by 63 percent. In Germany, procurement and sales accounted for the largest share of costs (44 percent), followed by 29 percent for taxes, levies and levies and 27 percent for network fees.