Which electricity supplier is the cheapest? This question has been on the minds of Europeans since the start of the energy crisis in 2021. In this article, you will discover huge differences between European countries since the introduction of support measures. We have compared the prices of electricity contracts for private customers in 20 countries. The price of the cheapest electricity contract can vary by 870% depending on the country. Greece has the cheapest electricity tariffs (78€/year for 1000 kWh), and Ireland is the most expensive (682€/year for 1000 kWh).
If you only have 30 seconds
- We compared about 1000 contracts for the supply of 1000 Kwh / year of electricity to individuals in 20 different countries
- The cheapest contracts range from 78€ / year in Greece to 682€ in Ireland
- The average for the cheapest contracts is 347€/year. The following countries are above this average: Lithuania, Italy, Ireland, Finland, Belgium, Austria, Germany
- Remarkable differences exist for the same country. In Greece, the most expensive contract costs 14.16 more than the cheapest. In Luxembourg, the difference is only 1.28.
- The most expensive contract is ForGreen S.p.a. in Italy, which proposes a contract of 2389,46€ for 1000 kWh
Summary
- Methodology
- Where are the cheapest electricity suppliers in Europe?
- Where are the most expensive electricity suppliers in Europe?
- Basic results
- Data source
Methodology for comparing electricity suppliers
We reviewed about 1000 electricity supply contracts in 20 European countries to realize this research. We relied on two sources of information.
- official comparators made available by the authorities when they existed
- commercial comparators when official comparators were not available
The list of comparators used is available at the end of this article.
The comparison of electricity prices was based on a single consumption estimate: 1000 kWh/year. This corresponds to the consumption of a single person in a small apartment (<50m²) for which the heating is not electric.
We have systematically indicated the capital of the country in question as the delivery point. Prices can indeed vary from one region to another.
When differentiated tariffs were available, we indicated consumption of 500 kWh in day tariff and 500 kWh in night tariff.
For each country, we have noted:
- the cheapest tariff, excluding the supplier’s promotion
- the most expensive tariff
and then calculated an average price per kWh. The prices were recorded on 17/09/22.
Where are the cheapest electricity suppliers in Europe?
We were surprised that electricity prices vary greatly between European Union countries. In this period of an energy crisis, different mechanisms have been put in place to help citizens. These aids are reflected in the tariffs proposed.
Very important differences from one country to another
The aid policies of the EU countries have created very different situations. The first remarkable thing is the very large differences from one country to another. The cheapest electricity contract is 8 times more expensive in Ireland than in Greece
Greece, the country with the cheapest electricity
In Greece, government support reaches €0.639/kWh, which means that residents currently enjoy the cheapest electricity in Europe. The company ΕΛΙΝΟΙΛ can thus propose a contract at a price that defies all competition: €78/year.
Ireland, Italy, Germany: the countries where electricity is the most expensive
Ireland is the country where people are least well off. This explains why the price per kWh in Ireland is so high (0.68€). Measures are being researched but have not yet been implemented.
The situation is not much better in Germany (0.66€) and Italy (0.64€).
An average of 347€/year for the cheapest contracts
As this is a commodity, we thought it would be interesting to average out the cheapest contracts. The average price of the cheapest electricity is 347€/year in the 20 countries studied.
The following countries are above the average: Lithuania (424€), Italy (636€), Ireland (682€), Finland (374€), Belgium (454€), Austria (522€), and Germany (667€).
Where are the most expensive electricity suppliers in Europe?
At the other end of the spectrum, there are also the most expensive electricity contracts.
As the market has been liberalized, small companies have entered certain markets to establish themselves as alternative suppliers. Their business model is based on buying significant quantities from producers and reselling them to individuals or SMEs. This model works when prices are stable but leads to disaster when wholesale prices rise, and they cannot pass these increases on to end customers. Several high-profile bankruptcies have already occurred. In France, Hydroption and Bulb Energie have gone bankrupt.
147 offers in Italy … and a contract at nearly 2400€/year!
Italy is the country where we found the most offers: 147. Some are proposed by small companies, structured as Srl (limited liability company).
The contracts proposed are sometimes not very competitive or even prohibitive, such as ForGreen S.p.a. This is a fixed price contract (one of the last on the market). Uncertainty on wholesale price variations comes at a high price. If you don’t want to be affected by these variations for 1 year, it will cost you 2,39€ per kWh.
In some countries, the price differences are reduced
While the differences between the most and least expensive contracts can be stratospheric, in some countries, the treatment is more “equal.”
In Luxembourg, for example, the most expensive contract (at Electris) costs “only” 28% more than the cheapest one (at Sudstroum). The situation is relatively similar in Ireland (47% difference) and Slovakia (48%).
Basic results
| Country | Supplier | Annual price (in Euros) | The offers name | Average price per kWh en Euros | Type |
| Germany | Stadtwerke Heidelberg Energie | 666,88 € | kurpfalz KLIMA online | 0,66688 | cheapest |
| Germany | Fuxx-Die Sparenergie GmbH | 1.827,37 € | Home TOP one | 1,82737 | most expensive |
| Austria | Wien Energie | 522,05 € | Optima | 0,52205 | cheapest |
| Austria | Enstroga | 1.768,26 € | Variopower plus | 1,76826 | most expensive |
| Belgium | TotalEnergies | 453,92 € | Pixel | 0,45392 | cheapest |
| Belgium | Engie | 746,20 € | Flow 100% Vert – 100% Belge | 0,7462 | most expensive |
| Spain | Naturgy | 185,50 € | By Light Use | 0,1855 | cheapest |
| Spain | Atulado | 466,42 € | Atulated DH 3 periods | 0,46642 | most expensive |
| Estonia | 220 Energia OÜ | 309,96 € | Stock market hind | 0,30996 | cheapest |
| Estonia | Eesti Energia AS | 586,68 € | Sure | 0,58668 | most expensive |
| Finland | Nordic Green Energy | 374,70 € | Variable price | 0,3747 | cheapest |
| Finland | Fortum | 900,00 € | Vakio S | 0,9€ | most expensive |
| France | EDF | 301,00 € | Zen Online | 0,301€ | cheapest |
| France | wekiwi | 896,00 € | Offre électricité à prix fixe | 0,896€ | most expensive |
| Greece | ΕΛΙΝΟΙΛ | 78,07 € | Οn! Οικιακό (Με Κρατική Επιδότηση) | 0,07807 | cheapest |
| Greece | Ken | 1.105,90 € | Volton Home | 1,1059 | most expensive |
| Irland | Energia | 682,11 € | Home Electricity 15% | 0,68211€ | cheapest |
| Irland | Power.ie | 1.006,50 € | Smart Pay | 1,0065 | most expensive |
| Italy | OK ENERGIA SRL | 636,26 € | PLACET Fissa | 0,63626 | cheapest |
| Italy | ForGreen S.p.a. | 2.389,46 € | PLACET Fissa | 2,38946 | most expensive |
| Latvia | Enefit | 266,76 € | Enefit Energy dependence | 0,26676 | cheapest |
| Latvia | Baltcom | 532,80 € | Baltcom Universal | 0,5328 | most expensive |
| Lithuania | Enefit | 424,92 € | Standard SUPERGREEN two time zones | 0,42492 | cheapest |
| Lithuania | Ignitis | 646,44 € | Optimal fire | 0,64644 | most expensive |
| Luxembourg | Sudstroum | 340,91 € | TERRA online | 0,34091 | cheapest |
| Luxembourg | Electris | 437,25 € | SwitchBLUE | 0,43725 | most expensive |
| Norway | Us Norge AS | 308,40 € | Vibe | 0,3084 | cheapest |
| Norway | LOS AS | 428,40 € | LOS Solar power | 0,4284 | most expensive |
| Netherlands | hvc | 322,12 € | Modelcontract Biostroom | 0,32212 | cheapest |
| Netherlands | NLE | 810,04 € | Modelcontract Groene Stroom | 0,81004 | most expensive |
| Poland | e.on | 117,46 € | E-ON tariff | 0,117456178 | cheapest |
| Poland | Enefit | 526,09 € | Standard price list | 0,526093409 | most expensive |
| Portugal | Endesa | 298,68 € | Endesa | I want + Light | 0,29868 | cheapest |
| Portugal | Logica Energy | 519,12 € | Logica Energy | Base | 0,51912 | most expensive |
| Czech Republic | e.on | 201,09 € | 0,20109 | cheapest | |
| Czech Republic | CENTROPOL ENERGY | 388,28 € | 0,38828 | most expensive | |
| Slovakia | WSE | 177,20 € | DomovMini | 0,1772 | cheapest |
| Slovakia | Energy 2 | 262,67 € | Classical | 0,2626€ | most expensive |
| Sweden | Göteborg Energi | 289,20 € | Variable price | 0,2892 | cheapest |
| Sweden | Kalmar Energi | 477,60 € | variable price | 0,4776 | most expensive |
Sources for comparing electricity prices
- Germany: www.check24.de
- Austria: durchblicker.at
- Belgium: comparateur-energie.be
- Spain: comparador.cnmc.gob.es
- Estonia: elektrihind.ee
- Finland: www.sahkon-kilpailutus.fi
- France: comparateur-offres.energie-info.fr
- Irland: www.bonkers.ie
- Italy: www.ilportaleofferte.it
- Latvia: www.elektroenergija.lv
- Lithuania: skaiciuokle.vert.lt
- Luxembourg: www.calculix.lu
- Norway: www.strompris.no
- Netherlands: www.gaslicht.com
- Poland: optimalenergy.pl
- Portugal: www.comparaja.pt
- Czech Republic: www.kurzy.cz
- Slovakia: www.moneytoo.sk
- Sweden: www.compricer.se
Posted in Misc..
4 April 2023
If you included the “price to the environment”, now which would be the cheapest? France (70% nuclear) or Norway (hydro) ?
4 April 2023
That’s a good question. I guess the answer is that Norway is in a far better position (like Iceland or New Zealand)