In the fourth quarter of 2025, Bermuda had the highest household electricity prices worldwide, followed by Ireland, Italy, and Belgium. At the time, Irish households were charged around 0.45 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.42 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost seven times less. 

What is behind electricity prices?

Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion ofresidential end-user electricity prices.

Reliance on fossil fuel imports

Meanwhile, thanks to their great crude oil andnatural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.