Helsinki has cheapest residential electricity price in Europe

Survey by VaasaETT shows that the price per KWh of electricity can vary by 127% across 23 cities in Europe.

Helsinki has the cheapest residential electricity prices in Europe when adjusted to purchasing power, according to a survey of 23 European cities by the global energy think tank VaasaETT. Including taxes, the residential electricity price in Helsinki was 11.42 cents per KWh in September 2013, while the average price in European cities was 20.34 cents per KWh.

In Helsinki, the total price of electricity is made up of the energy price component of (41%), distribution and transmission (28%), energy taxes (12%), and VAT (19%). The European averages are 41% for the energy price component, 33% for distribution and transmission, 11% for energy taxes, and 16% for VAT.

The survey results show that depending on where a customer lives in the EU, the price per KWh of electricity can vary by as much as 127%. According to VaasaETT, although its prices are specific to the capital cities, the rankings would not change if the country as a whole was substituted for the city.

Sources: VaasaETT, BBC