Cost of electricity per kilowatt-hour for industrial and commercial energy storage

The prices are calculated using 1,000,000 kWh annual consumption and are expressed in USD using the current exchange rates. The map shows the price of electricity for industrial use per kWh. The data on the map are for 132 countries and were collected in 2024 Q4. The latest data and historical series are available for download.

For comparison, the average wholesale electricity price in 2024 in Victoria was USD 80/MWh and in Germany around USD 85/MWh. Negative prices are not yet a dominant feature in most markets, but their strong growth trend in various regions in recent years is highlighting the growing need for more flexibility in electricity supply and demand.

1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price. Industry electricity prices ranged from 0.01 U.S. dollars per kilowatt-hour in the Middle Eastern countries to 0.5 U.S. dollars per kilowatt-hour in Europe.

The number of hours with a negative wholesale electricity price has been increasing in Europe since 2022. Finland led the continent with the highest number of negatively priced hours in 2024, at 8% of the time (700 hours).

This analysis considers electricity prices of industries with greater than 150 GWh of annual electricity consumption for European countries, based on Eurostat data. Electricity price compensation included for countries that participate in EU-ETS.

Over the past few years, the average industrial power rate in China has increased slightly, reaching approximately US$0.088/kWh in 2024, up from US$0.084/kWh in 2019. Despite this uptick, China's electricity prices remain lower than those in most developing countries, such as India and Mexico.