Finland has the cheapest electricity prices in the European Union for industrial and household consumers, and the trend is towards still lower prices, according to the latest figures published by Eurostat.
The price of electricity (including taxes) for industrial consumers in Finland was EUR 0.0915 per KWh during the second semester of 2012. This was about 38% lower than the EU27 average of EUR 0.1466 per KWh. The price of electricity for industrial consumers in Finland fell slightly during the second semester of 2012 compared to the corresponding period in 2011.
Finnish households benefit
According to Eurostat, the price of electricity for household consumers increased by an average of 6.6% in the EU during the second semester of 2012, while in Finland it fell by 1%. In absolute terms, the price of electricity for household consumers in Finland is 12th lowest in the EU and about 21% cheaper than the EU27 average.
However, when Eurostat compares countries in terms of purchasing power standards (PPS), Finnish households enjoy the cheapest electricity in Europe. PPS eliminates price level differences between countries, so relative to the cost of other goods and services, Finland has the lowest electricity prices for household consumers.