Eurostat data reveals Ireland is fifth most expensive country in EU for household electricity
Electricity prices are going up and Ireland is already paying more than many of its European neighbours.
With the spate of recent price hikes it may come as no surprise to consumers that Ireland has been ranked as one of the most expensive countries, not only the EU but also wider Europe, when it comes to household electricity prices.
Coming in fifth only behind EU countries Denmark, Germany, Belgium and Spain, Irish households were paying 0.2369 EUR per kWh (taxes included) for electricity in the first half of 2018 according to the data from Eurostat. This is compared to Bulgaria who have the cheapest electricity in the EU at only 0.0979 EUR per kWh (taxes included). At the other end of the scale Denmark lose out with the most expensive electricity at 0.3126 EUR per kWh (taxes included).
Both Denmark and Ireland retained their rankings when the study was widened to look at other European countries outside of the EU. However, Bulgaria was overtaken by the Ukraine who took the spot of cheapest electricity in Europe - paying just 0.041 EUR per kWh (taxes included) in the first half of this year.
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Taxes make up a large majority of Denmark’s electricity prices whereas Ireland’s taxes and VAT has much less of an impact on the total costs. This is how the Ukraine and Bulgaria manage to keep their costs so low - with both countries having little to no additional taxes added onto their electricity prices and relatively low VAT incurred.
However, if now you’re thinking it’s time to pack up and move to the Ukraine or Bulgaria keep in mind there are ways you can help reduce the amount you currently pay for electricity. Many households waste tens and hundreds of Euro each year by not making sure their house is energy-efficient. There are some easy things you can do the reduce the amount of energy you waste and we’ve listed them out for you in this helpful guide.
The other thing you can do is switch supplier - if you are with the same supplier you were with 12 months ago (or longer) it’s likely you are paying more than you need to for your electricity, as your introductory discount will be well and truly over. Right now by switching households can save up to €289 which is quite a substantial amount of money that could be saved or put towards other things.