Passa ai contenuti principali

UK Citizens Pay The Highest Electricity Bills In The World


  • A study on government electricity and gas price data reveals that Brits pay the world's highest energy bills.

  • Norway is the country with by far the biggest increase in electricity prices worldwide

  • The UK's energy price cap was recently raised from 28p to 34p per kWh.

New research reveals that the UK has the highest electricity bills.

Brits pay more for their power than anywhere else on the planet.

A new study looked at Government data on electricity and gas prices from the past five years to analyse the impact of the worsening cost of living crisis and discover which countries have had the biggest year-on-year increase in energy prices. The data, compiled by BOXT, was shared with City A.M. today

The UK's energy price cap was recently raised from 28p to 34p per kWh.

Much like the rest of the world, prices have increased due to reduced supply from Russia due to the Ukraine conflict, as well as the after-effects of the coronavirus pandemic.

The UK's neighbours in the Republic of Ireland have the second highest electricity cost, paying 18.99p per kWh. That's 53 per cent more expensive than the average of these 24 countries.

However, prices are slightly more affordable when it comes to gas in Ireland, which stands at 5.21p per kWh.

The countries with the highest electricity prices 

Residents of Spain are paying an average of 18.51p per kWh. Electricity prices in Spain recently hit a historical high and were recently capped at €130 (£112) per megawatt hour, down from €210 (£181).

Norway is the country with by far the biggest increase in electricity prices worldwide - 91 per cent increase in electricity cost in pence/kWh since 2016.

Top 10 countries with the biggest electricity bill price increase:

The second highest electricity rises are in Finland – Since 2016, Finnish residents have seen their electricity bills increase by almost two-fifths (37%) on average.

Tied in third place are the Czech Republic, Denmark, and the United Kingdom, with a 35% increase in electricity prices. 

Commenti

Posta un commento

Post popolari in questo blog

Charting the World Economy: The U.S. Jobs Market Is On Fire - Bloomberg

Charting the World Economy: The U.S. Jobs Market Is On Fire - Bloomberg https://www.bloomberg.com/news/articles/2019-12-06/charting-the-world-economy-the-u-s-jobs-market-is-on-fire Charting the World Economy: The U.S. Jobs Market Is On Fire Zoe Schneeweiss Explore what's moving the global economy in the new season of the Stephanomics podcast. Subscribe via  Apple Podcast , Spotify or  Pocket Cast . The last U.S. payrolls report of the decade was a doozy, beating expectations and doing its bit to keep the consumer in good health heading into 2020. That's good news given the various pressures still weighing on global growth. Here's some of the charts that appeared on Bloomberg this week, offering a pictorial insight into the latest developments in the global economy. U.S. Advertisement Scroll to continue with content ...
Posta un commento
Continua a leggere

Fwd: The Looming Bank Collapse The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.

After months  of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these factors are serious and could mire the United States in a deep, prolonged recession. But there's another threat to the economy, too. It lurks on the balance sheets of the big banks, and it could be cataclysmic. Imagine if, in addition to all the uncertainty surrounding the pandemic, you woke up one morning to find that the financial sector had collapsed. You may think that such a crisis is unlikely, with memories of the 2008 crash still so fresh. But banks learned few lessons from that calamity, and new laws intended to keep them from taking on too much risk have failed to do so. As a result, we could be on the precipice of another crash, one different from 2008 less in kind than in degree. This one could be worse. John Lawrence: Inside the 2008 financial crash The financial...
Posta un commento
Continua a leggere

Another Paradox: Consumer Spending Expectations Surge, Despite Dismal Income, Earnings

Call it the latest economic paradox. Despite widespread stories of doom and gloom about the state of US consumer finances once the fiscal stimulus bill expires on Dec 31, the latest NY Fed survey of consumer expectations unexpectedly shows that US consumers have little intention of slowing down their spending. In fact, and very paradoxically,  despite depressed and flat income and earnings growth expectations,  with median one-year ahead expected earnings growth at 2.0% for fifth consecutive month and expected income growth barely little changed at 2.14% ... ...  consumers' 1-year ahead  spending growth expectations  jumped to 3.73% over the next 12 months in November  - the highest level in more than four years, not only up from the 3.06% in the previous month but a whopping 33% more than the 2.8% reported last November,  making this the biggest Y/Y increase in expected spending in series history. This bizarre increase took place even as labor market signals were mixed: although t...
Posta un commento
Continua a leggere