Iceland and Luxembourg have the most affordable electricity among European countries. These data were presented in a June 17 RIA Novosti study.
After a difficult period in 2022 amid the energy crisis, the European electricity market showed signs of stabilization in 2023. A decrease in electricity prices was observed, even though they have not yet reached their long-term average indicators .
The study took into account both changes in electricity prices in the retail market and differences in income levels between countries. The definition of affordability was based on the amount of electricity citizens could afford based on their average monthly salaries.
The study highlighted that Icelandic residents are those who can buy the most electricity with their average monthly salary: more than 28 thousand kWh. Then come Luxembourg and Norway, where residents have the opportunity to purchase 20.3 thousand kWh with an average monthly salary.
Russia took fifth place in the ranking. Russian citizens can purchase about 16.3 thousand kWh with an average monthly salary.
Moldova, for its part, took the last place in the ranking (3.8 thousand kWh).
Experts also analyzed the cost of electricity in several countries, highlighting the lowest prices in Kazakhstan and Russia, while the United Kingdom stands out among the countries with the highest electricity rates.
Despite the general stabilization of the market, price dynamics in several countries showed an increase, caused, in particular, by the lifting of price containment measures. At the same time, in some countries there was a drop in prices amid an improvement in the general economic situation.
Source: Rossa Primavera
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