pv magazine International
Hudson Institute
Today's electricity prices across Europe show significant variation. At the top of the list is 🇧🇬 Bulgaria and 🇷🇴 Romania, both sharing the highest price at €0.242/kWh.
On the other end of the spectrum, 🇳🇴 Norway (North) offers the lowest price at just €0.004/kWh, indicating a stark contrast between the highest and lowest rates measured today.
These fluctuations impact both consumer behaviors and energy policies, posing challenges and opportunities for energy management throughout the continent.
| Price area – €/kWh | Avg. | High | Low | |
|---|---|---|---|---|
| #1 🇧🇬 Bulgaria | +60,4% | 0.242 | 0.452 | 0.109 |
| #2 🇷🇴 Romania | +60,4% | 0.242 | 0.452 | 0.109 |
| #3 🇸🇰 Slovakia | +51,2% | 0.229 | 0.368 | 0.109 |
| #4 🇭🇺 Hungary | +47,2% | 0.225 | 0.362 | 0.109 |
| #5 🇩🇪 Germany | +75,2% | 0.222 | 0.378 | 0.108 |
| #6 🇱🇺 Luxembourg | +75,2% | 0.222 | 0.378 | 0.108 |
| #7 🇭🇷 Croatia | +49,2% | 0.217 | 0.341 | 0.109 |
| #8 🇦🇹 Austria | +56,1% | 0.217 | 0.355 | 0.109 |
| #9 🇨🇿 Czech Republic | +72,4% | 0.217 | 0.368 | 0.106 |
| #10 🇸🇮 Slovenia | +51,6% | 0.217 | 0.344 | 0.109 |
| #11 🇩🇰 Denmark (East) | +310,5% | 0.212 | 0.378 | 0.058 |
| #12 🇳🇱 Netherlands | +75,9% | 0.207 | 0.351 | 0.097 |
| #13 🇬🇷 Greece | +46,8% | 0.206 | 0.452 | 0.109 |
| #14 🇩🇰 Denmark (West) | +257,7% | 0.200 | 0.315 | 0.062 |
| #15 🇵🇱 Poland | +58,1% | 0.199 | 0.326 | 0.106 |
| #16 🇧🇪 Belgium | +36,3% | 0.185 | 0.287 | 0.110 |
| #17 🇨🇭 Switzerland | +11,5% | 0.163 | 0.223 | 0.113 |
| #18 🇫🇷 France | +17,5% | 0.161 | 0.275 | 0.110 |
| #19 🇪🇪 Estonia | +149,7% | 0.149 | 0.302 | 0.005 |
| #20 🇱🇻 Latvia | +149,7% | 0.149 | 0.302 | 0.005 |
| #21 🇱🇹 Lithuania | +149,7% | 0.149 | 0.302 | 0.005 |
| #22 🇵🇹 Portugal | +2,7% | 0.141 | 0.225 | 0.116 |
| #23 🇪🇸 Spain | +2,1% | 0.141 | 0.225 | 0.116 |
| #24 🇸🇪 Sweden (South) | +439,6% | 0.121 | 0.300 | 0.000 |
| #25 🇳🇴 Norway (East) | +120,2% | 0.076 | 0.257 | 0.036 |
| #26 🇳🇴 Norway (South) | +97,5% | 0.066 | 0.219 | 0.036 |
| #27 🇸🇪 Sweden (Mid-South) | +340,2% | 0.063 | 0.303 | 0.000 |
| #28 🇫🇮 Finland | +670,2% | 0.043 | 0.302 | 0.000 |
| #29 🇳🇴 Norway (West) | +24,7% | 0.040 | 0.090 | 0.032 |
| #30 🇳🇴 Norway (Mid) | +29,6% | 0.005 | 0.009 | 0.003 |
| #31 🇸🇪 Sweden (Mid-North) | +10,0% | 0.005 | 0.019 | 0.000 |
| #32 🇸🇪 Sweden (North) | +13,0% | 0.005 | 0.017 | 0.000 |
| #33 🇳🇴 Norway (North) | +24,5% | 0.004 | 0.005 | 0.001 |
| #34 🇮🇹 Italy (Calabria) | n/a | n/a | n/a | |
| #35 🇮🇹 Italy (Centre-North) | n/a | n/a | n/a | |
| #36 🇮🇹 Italy (Centre-South) | n/a | n/a | n/a | |
| #37 🇮🇹 Italy (North) | n/a | n/a | n/a | |
| #38 🇮🇹 Italy (Sardinia) | n/a | n/a | n/a | |
| #39 🇮🇹 Italy (Sicily) | n/a | n/a | n/a | |
| #40 🇮🇹 Italy (South) | n/a | n/a | n/a | |
| #41 🇷🇸 Serbia | n/a | n/a | n/a | |
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Europe's electricity market is characterized by a diverse array of energy sources. The main source of electricity across the continent varies by region, reflecting different geographical and economic factors.
In many European countries, nuclear energy and natural gas are significant contributors to the electricity mix. Renewable sources like wind, solar, and hydroelectric power are also rapidly growing, reflecting the continent's commitment to sustainable energy.
Renewable energy is increasingly prominent in Europe's energy landscape. Countries are investing in wind farms, solar panels, and hydroelectric plants to reduce carbon emissions and combat climate change.
This shift towards renewables is driven by both environmental policies and technological advancements. European nations are leading the way in developing and implementing green energy technologies.
Following EU regulations, a significant number of households in Europe have installed smart meters. These devices provide detailed information on electricity usage, measuring consumption on an hourly basis.
Smart meters enable consumers to adjust their energy use in response to real-time data. Many European households have electricity plans that are linked to the current spot price, allowing them to benefit from hourly price variations.
Most European countries are part of a shared electricity market, which is facilitated by extensive interconnections between national grids. This integration allows for the efficient distribution of electricity across borders.
These connections enhance the reliability of the electricity supply and promote the use of renewable energy sources. They allow countries with excess renewable energy to export it to regions with higher demand, optimizing the use of green energy across the continent.
Europe faces challenges in balancing its energy supply, particularly with the variable nature of renewable sources. Ensuring a stable and continuous supply of electricity is a key focus.
Investments in energy storage technologies and grid modernization are critical in addressing these challenges. These advancements will enable Europe to maximize the benefits of its diverse energy mix.
kWh stands for kilowatt-hour, and is a unit that tells how much energy is used in one hour. Kilo means a thousand. So for example, if you have a 1000 watt oven on for one hour, you have used 1 kilowatt-hour. For a light bulb, which may only consume 10 watt, it will take 100 hours (just over 4 days) before you have used 1 kWh.
Most electricity companies in Europe buy electricity on a common market place, such as Nord Pool. All power plants that produce electricity and electricity companies that supply electricity to homes and businesses meet there. Based on supply and demand, prices are set for each hour and each area, one day in advance. Some countries, such as Norway, are divided into several different price areas, each of which has its own spot price.
Supply and demand determine the price of electricity in Europe. If there is a high production of electricity from power plants and demand is low, the price will fall. If, on the other hand, the production of electricity is small and demand is high, prices will increase. Therefore, the price of electricity is often highest in winter, as the need for electricity for heating is highest.
Heating certainly uses the most electricity, closely followed by hot water and charging electric cars. Electrical appliances such as TVs, mobile phones and computers use very little electricity in relation to heating.
All prices are current open market spot prices in the day-ahead segment without local vat, tax or other additions.
Timezone is Central European Time (CET) with Daylight Saving Time (DST). Current time: Wed, 15 Jan 2025 18:49
Data source is ENTSO-E