Electricity Pricing - wikipedia Electricity Pricing This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( November 2016 ) Electricity pricing ( sometimes referred to as electricity tariff or the price of electricity ) varies widely from country to country and may vary significantly from locality to locality within a particular country. Many factors go into determining an electricity tariff, such as the price of power generation, government subsidies, local weather patterns, transmission and distribution infrastructure, and industry regulation. `` Electricity prices generally reflect the cost to build, finance, maintain, and operate power plants and the electricity grid. '' Some utilities are for - profit, and their prices will also include a financial return for shareholders and owners. Electricity tariffs vary by type of customer, typically by residential, commercial, and industrial connections. Electricity price forecasting is the method by which a generator, utility company, or large industrial consumer can predict the wholesale prices of electricity with reasonable accuracy. The cost to supply electricity varies minute by minute. Contents 1 Rate structure 2 Price comparison 2.1 Global comparison 2.2 Eurostat 3 Electricity price forecasting 3.1 Forecasting methodology 3.2 Driving factors 3.2. 1 Weather 3.2. 2 Hydropower availability 3.2. 3 Power plant and transmission outages 3.2. 4 Economic health 3.3 Power quality 3.4 Phase balancing 4 See also 5 References 6 External links Rate structure In standard regulated monopoly markets, electricity rates typically vary for residential, commercial and industrial customers. The rates are determined through a regulatory process that is overseen by a public utility commission. Prices for any single class of electricity customer can vary by time - of - day or by the capacity or nature of the supply circuit ( e.g., 5 kW, 12 kW, 18 kW, 24 kW are typical in some of the large developed countries ) ; for industrial customers, single - phase vs. 3 - phase, etc. Prices are usually highest for commercial and residential consumers because of the additional costs associated with stepping down their distribution voltage. The price of power for industrial customers is relatively the same as the wholesale price of electricity, because they consume more power at higher voltages. Supplying electricity at transmission - level high voltages is more efficient, and therefore less expensive. The two most common distinctions between customer classes are load size and usage profile. In many cases, time - of - use ( TOU ) and load factor are more significant factors than load size. Contribution to peak - load is an extremely important factor in determining customer rate class. Consumer loads may be characterized as peak, off - peak, baseload, and seasonal. Utilities rate each load differently, because each has different implications for a power system. The inclusion of renewable energy distributed generation and AMI in the modern electricity grid has introduced many alternative rate structures. Simple ( or fixed ) rate, tiered ( or step ) rate, TOU, demand rates, tiered within TOU, seasonal, and weekend / holiday rates are among the few residential rate structures offered by modern utilities. The simple rate charges a specific dollar per kilowatt ( $ / kWh ) consumed. The tiered rate is one of the more common residential rate programs, and it charges a higher rate as customer usage increases. TOU and demand rates are structured to help maintain / control a utility 's peak demand. The concept at its core is to discourage customers from contributing to peak - load times by charging them more money to use power at that time. A feed - in tariff ( FIT ) is an energy - supply policy that supports the development of renewable power generation. FITs give financial benefits to renewable power producers. In the United States, FIT policies guarantee that eligible renewable generators will have their electricity purchased by their utility. The FIT contract contains a guaranteed period of time ( usually 15 - 20 years ) that payments in dollars per kilowatt hour ( $ / kWh ) will be made for the full output of the system. Net metering is another billing mechanism that supports the development of renewable power generation, specifically, solar power. The mechanism credits solar energy system owners for the electricity their system adds to the grid. Residential customers with rooftop PV system will typically generate more electricity than their home consumes during daylight hours, so net metering is particularly advantageous. During this time where generation is greater than consumption, the home 's electricity meter will run backwards to provide a credit on the homeowner 's electricity bill. The cost also differs by the power source. The net present value of the unit - cost of electricity over the lifetime of a generating asset is known as the levelized cost of electricity ( LCOE ). LCOE is the best value to compare different methods of generation on a consistent basis. In the U.S. the estimated LCOE for different sources are : Generation Source LCOE ( 2015 $ / kWh ) Gas Combined Cycle 0.042 - 0.078 Coal 0.06 - 0.143 Nuclear 0.112 - 0.183 Solar PV, Rooftop Residential 0.187 - 0.319 Solar PV, Utility 0.046 - 0.053 Wind 0.03 - 0.06 Price comparison The table below shows simple comparison of electricity tariffs in industrialised countries and territories around the world, expressed in US dollars. The comparison does not take into account factors including fluctuating international exchange rates, a country 's purchasing power, government electricity subsidies or retail discounts that are often available in deregulated electricity markets. For example, in 2012, Hawaii residents had the highest average residential electricity rate in the United States ( 37.34 ¢ / kWh ), while Louisiana residents had the lowest average residential electricity costs ( 8.37 ¢ / kWh ). Even in the contiguous United States the gap is significant, with New York residents having the highest average residential electricity rates in the lower 48 U.S. states ( 17.62 ¢ / kWh ). Global comparison Country / territory US cents / kWh US cents / megajoule Date Source American Samoa 7001254000000000000 ♠ 25.4 to 30 May 2017 Argentina 7000310000000000000 ♠ 3.1 ( subsidized ) 0.86 ( Buenos Aires ) 000000002006 - 01 - 01 - 0000 2006 Argentina ( Concordia ) 7001191300000000000 ♠ 19.13 5.31 000000002013 - 06 - 14 - 0000 Jun 14, 2013 Australia varies by state and by time of day ( peak / shoulder / off peak ) from 15 - 54 cents AUD per kWh ; service availability charge of $0.95 AUD a day 6.11 to 11.06 000000002018 - 02 - 06 - 0000 Feb 6, 2018 Bahrain 6999790000000000000 ♠ 0.79 to 4.23 ( 0.79 for first 3000 kWh ; 2.38 for 3001 - 5000 kWh and 4.23 for every additional kWh. Exchange rate used from BHD to USD is 0.378 ) Aug 19, 2015 Bangladesh 7000295000000000000 ♠ 2.95 to 9.24 000000002014 - 03 - 13 - 0000 Mar 13, 2014 Belarus 7001138000000000000 ♠ 13.8 to 69.8 000000002016 - 06 - 21 - 0000 Jun 21, 2016 Belgium 7001290800000000000 ♠ 29.08 8.08 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Bhutan 000000002017 - 06 - 18 - 0000 Jun 18, 2017 Brunei 0.72 to 8.64 ( 0.72 for first 600 kWh ; 5.76 for 601 - 2000 kWh ; 7.20 for 2001 - 4000 kWh and 8.64 for every additional kWh. Exchange rate used from BRR to USD is 0.72 ) 000000002017 - 06 - 18 - 0000 Jun 18, 2017 Bulgaria 7001133800000000000 ♠ 13.38 day ( between 7 : 00 - 23 : 00 DST ) ; 9.13 night 2.54 to 3.72 000000002014 - 10 - 29 - 0000 Oct 29, 2014 Brazil 7001120000000000000 ♠ 12.00 to 25.00 varying by state and Electricity Service Provider 000000002016 - 07 - 07 - 0000 Jul 7, 2016 Cambodia 7001156300000000000 ♠ 15.63 to 21.00 in Phnom Penh 4.34 to 5.83 000000002014 - 02 - 28 - 0000 Feb 28, 2014 Canada, Ontario 7001146000000000000 ♠ 14.6 000000002017 - 01 - 01 - 0000 2017 - 000000002018 - 01 - 01 - 0000 2018 Canada, Ontario, Toronto 7000651990000000000 ♠ 6.52 to 11.69 depending on time of day plus transmission, delivery, and other charges of about 3.75 per kWh 1.81 to 3.25 000000002014 - 02 - 09 - 0000 Feb 9, 2014 Canada, Quebec 7000460000000099999 ♠ 4.60 for the first 33 kWh / day then 7.05 + 32.14 / day for subscription fee ( all converted to USD on July 17, 2017 ) 000000002017 - 01 - 01 - 0000 2017 China 4 to 4.5 000000002014 - 01 - 01 - 0000 2014 Chile 7001231100000000000 ♠ 23.11 000000002011 - 01 - 01 - 0000 Jan 1, 2011 Colombia ( Bogota ) 7001180500000000000 ♠ 18.05 000000002013 - 06 - 01 - 0000 Jun 1, 2013 Cook Islands 7001346000000000000 ♠ 34.6 to 50.2 Croatia 7001175500000000000 ♠ 17.55 000000002008 - 07 - 01 - 0000 Jul 1, 2008 Curaçao 7001265800000099999 ♠ 26.58 to 35.08 000000002017 - 08 - 01 - 0000 Aug 1, 2017 Denmark 7001330000000000000 ♠ 33 000000002015 - 05 - 01 - 0000 May 1, 2015 United Arab Emirates - Dubai 7000626000000000000 ♠ 6.26 to 10.35 ( plus 1.63 fuel surcharge ) United Arab Emirates - Abu Dhabi 5000000000000000000 ♠ 0 to 8.23 ( i.e. AED 0 to AED 0.305 ) 000000002017 - 01 - 01 - 0000 2017 Egypt Priced into sections at a kWh / month, subsidized 6999420000000000000 ♠ 0.42 @ 0 - 50 kWh / M 6999820009999900000 ♠ 0.82 @ 51 - 100 kWh / M 6999900000000000000 ♠ 0.9 @ 0 - 200 kWh / M 7000135000000000000 ♠ 1.35 @ 201 - 350 kWh / M 7000191000000000000 ♠ 1.91 @ 351 - 650 kWh / M 7000337000000000000 ♠ 3.37 @ 651 - 1000 kWh / M 7000416000000000000 ♠ 4.16 @ 1000 + kWh / M 000000002014 - 07 - 17 - 0000 Jul 17, 2014 Ethiopia 7000670000000000000 ♠ 6.7 to 7.7 000000002012 - 12 - 31 - 0000 Dec 31, 2012 Fiji 7001120000000000000 ♠ 12 to 14.2 Finland 7001206509999900000 ♠ 20.65 000000002011 - 11 - 01 - 0000 Nov 1, 2011 France 7001193900000000000 ♠ 19.39 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Georgia 7000800000000000000 ♠ 8.00 000000002015 - 07 - 24 - 0000 Jul 24, 2015 Gibraltar 7001144000000000000 ♠ 14.4 000000002018 - 01 - 04 - 0000 Jan 4, 2018 Germany 7001350000000000000 ♠ 35.00 000000002017 - 03 - 01 - 0000 Mar 1, 2017 Romania 7001184009999900000 ♠ 18.40 000000002013 - 06 - 26 - 0000 Jun 26, 2013 Guyana 7001268000000000000 ♠ 26.80 000000002012 - 04 - 01 - 0000 Apr 1, 2012 Switzerland 7001250000000000000 ♠ 25.00 000000002014 - 01 - 06 - 0000 Jan 6, 2014 Hungary 7001234400000000000 ♠ 23.44 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Hong Kong 7001120400000099999 ♠ 12.04 to 24.05 000000002013 - 01 - 01 - 0000 Jan 1, 2013 India 6999100000000000000 ♠ 0.1 to 18 ( Average 7 ) 000000002014 - 03 - 01 - 0000 March 1, 2014 Indonesia R - 1 / 450 VA Subsidized 3.07 R - 1 / 900 VA Subsidized 4.1 R - 1 / 900 VA - RTM ( Capable Household ) Non-subsidized 9.4 R - 1 / 1300 VA Non-subsidized 10.27 R - 1 / 2200 VA Non-subsidized 10.27 R - 2 / 3500 VA, 4400 VA, 5500 VA Non-subsidized 10.27 R - 3 / 6600 VA and above Non-subsidized 10.27 Nov 30, 2017 Iceland 7000554000000000000 ♠ 5.54 Nov 8, 2015 Iran 7000200000000000000 ♠ 2 to 19 000000002011 - 07 - 01 - 0000 Jul 1, 2011 Iraq Residential pricing per kWh used, subsidized 7000250000000000000 ♠ 2.5 @ 0 - 500 kWh / M 7000417000000000000 ♠ 4.17 @ 501 - 1000 kWh / M 7000750000000000000 ♠ 7.5 @ 1001 - 1500 kWh / M 7001116700000000000 ♠ 11.67 @ 1501 - 2000 kWh / M 7001141700000000000 ♠ 14.17 @ 2001 - 3000 kWh / M 7001166700000000000 ♠ 16.67 @ 3001 - 4000 kWh / M 7001187500000000000 ♠ 18.75 @ > 4001 kWh / M 000000002015 - 04 - 08 - 0000 Apr 8, 2015 Ireland 7001230600000000000 ♠ 23.06 000000002016 - 11 - 01 - 0000 November 1, 2016 Israel 7001153500000000000 ♠ 15.35 000000002017 - 05 - 08 - 0000 May 8, 2017 Italy 7001283900000000000 ♠ 28.39 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Jamaica 7001447000000000000 ♠ 44.7 000000002013 - 12 - 04 - 0000 Dec 4, 2013 Japan 7001200000000000000 ♠ 20 to 24 000000002009 - 12 - 31 - 0000 Dec 31, 2009 Jordan 7000500000000000000 ♠ 5 to 33 000000002012 - 01 - 30 - 0000 Jan 30, 2012 Kazakhstan 4.8 to 8.2 000000002016 - 12 - 13 - 0000 Dec 13, 2016 Kiribati 7001327000000000000 ♠ 32.7 South Korea Priced into a sliding scale at a kWh / month, residential service ( low - voltage ) 8.1 @ 0 - 200 kWh / M 16.4 @ 201 - 400 kWh / M 24.5 @ 401 - kWh / M 62.0 @ 1001 - kWh / M ( only for Jul - Aug, Dec - Feb ) Demand charge ( 0.76 - 6.38 USD ) 10 % VAT, 3.7 % green energy fund are not included 000000002016 - 12 - 01 - 0000 Dec 1, 2016 Kuwait 6999300000000000000 ♠ 0.3 to 3 000000002016 - 01 - 01 - 0000 Jan 1, 2016 Laos 7001119500000000000 ♠ 11.95 for > 150kWh, 4.86 for 26 - 150 kWh, 4.08 for 0 - 25 kWh 000000002014 - 02 - 28 - 0000 Feb 28, 2014 Latvia 7001182300000000000 ♠ 18.23 calculated for 100kWh including transport, green energy tax and VAT 000000002017 - 06 - 14 - 0000 Jun 14, 2017 Lithuania 7001120000000000000 ♠ 12 000000002016 - 07 - 01 - 0000 July 1, 2016 Macedonia 7000700000000000000 ♠ 7 to 10 industrial - 14 000000002013 - 08 - 01 - 0000 Aug 1, 2013 Malaysia Domestic consumer pricing per kWh used, subsidized 7000495000000000000 ♠ 4.95 @ 1 to 200 kWh 7000759000000000000 ♠ 7.59 @ 201 to 300 kWh 7001117300000000000 ♠ 11.73 @ 301 to 600 kWh 7001124100000000000 ♠ 12.41 @ 601 to 900 kWh 7001129800000000000 ♠ 12.98 @ 901 kWh onwards ( exchange rate of 4.4 MYR to 1 USD on Nov 24, 2016 ) 000000002014 - 01 - 01 - 0000 Jan 1, 2014 Marshall Islands 7001326000000000000 ♠ 32.6 to 41.6 Mexico 7001192800000000000 ♠ 19.28 000000002012 - 08 - 22 - 0000 Aug 22, 2012 Moldova 7001111100000000000 ♠ 11.11 000000002011 - 04 - 01 - 0000 Apr 1, 2011 Myanmar 7000360000000000000 ♠ 3.6 000000002014 - 02 - 28 - 0000 Feb 28, 2014 Nepal 7000720000000000000 ♠ 7.2 to 11.2 000000002012 - 07 - 16 - 0000 Jul 16, 2012 Netherlands 7001288900000000000 ♠ 28.89 000000002011 - 11 - 01 - 0000 Nov 1, 2011 New Caledonia 7001262000000000000 ♠ 26.2 to 62.7 New Zealand 7001191509999900000 ♠ 19.15 000000002012 - 04 - 19 - 0000 Apr 19, 2012 Nicaragua Priced into a sliding scale at a kWh / month, residential T - 0 7001100000000000000 ♠ 10 @ 0 - 25 kWh / M 7001210000000000000 ♠ 21 @ 26 - 50 kWh / M 7001220000000000000 ♠ 22 @ 51 - 100 kWh / M 7001290000000000000 ♠ 29 @ 101 - 150 kWh / M 7001270000000000000 ♠ 27 @ 151 - 500 kWh / M 7001430000000000000 ♠ 43 @ 501 - 1000 kWh / M 7001480000000000000 ♠ 48 @ 1000 + kWh / M 000000002014 - 09 - 01 - 0000 Sep 1, 2014 Niue 7001443000000000000 ♠ 44.3 Nigeria 7000258000000000000 ♠ 2.58 to 16.55 000000002013 - 07 - 02 - 0000 Jul 2, 2013 Norway 7001159000000000000 ♠ 15.9 000000002013 - 07 - 25 - 0000 Jul 25, 2013 Pakistan General Supply Tariff - Residential 7000200000000000000 ♠ 2 < 50 kWh / M 7000579000000000000 ♠ 5.79 @ 1 - 100 kWh / M 7000811009999900000 ♠ 8.11 @ 101 - 200 kWh / M 7001102100000000000 ♠ 10.21 @ 201 - 300 kWh / M 7001160000000000000 ♠ 16 @ 301 - 700 kWh / M 7001180000000000000 ♠ 18 > 700 kWh / M 000000002015 - 07 - 14 - 0000 14 Jul 2015 Palau 7001228300000099999 ♠ 22.83 Papua New Guinea 7001196000000000000 ♠ 19.6 to 38.8 Paraguay General Supply Tariff - Residential 7000566000000000000 ♠ 5.66 @ 0 - 50 kWh / M 7000636000000000000 ♠ 6.36 @ 51 - 150 kWh / M 7000664000000000000 ♠ 6.64 @ 151 - 300 kWh / M 7000734000000000000 ♠ 7.34 @ 301 - 500 kWh / M 7000764000000000000 ♠ 7.64 @ 501 - 1000 kWh / M 7000792000000000000 ♠ 7.92 > 1000 kWh / M General Supply Tariff - Industrial 7000736000000000000 ♠ 7.36 kWh / M ( exchange rate : 1 USD = 5,500 PYG ) 000000002017 - 01 - 01 - 0000 2017 Peru 17.70 January 19, 2018 Philippines 18.22 Palawan 25.2 000000002015 - 10 - 07 - 0000 October 7, 2015 Portugal 7001252500000000000 ♠ 25.25 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Russia 7000240000000000000 ♠ 2.4 to 14 000000002011 - 11 - 01 - 0000 Nov 1, 2011 Rwanda 7001220000000000000 ♠ 22 to 23.6 000000002016 - 01 - 01 - 0000 2016 Saudi Arabia for Residential ( 1 - 6000 Kwh = 4.8 cents, more 6000 kwh = 8 cents ) for Commercial ( 1 - 6000 Kwh = 5.3 cents, more 6000 kwh = 8 cents ) for Agricultural & Charities ( 1 - 6000 Kwh = 4.3 cents, more 6000 kwh = 5.3 cents ) for Governmental ( kwh = 8.5 cents ) for Industrial ( kwh = 4.8 cents ) for Private educational, private medical ( kwh = 4.8 cents ) 000000002018 - 01 - 15 - 0000 Jan 15, 2018 Serbia 7000393000000000000 ♠ 3.93 to 13.48, average ~ 6, 1 000000002013 - 02 - 28 - 0000 Feb 28, 2013 Singapore 14.97 000000002017 - 06 - 16 - 0000 Jun 16, 2017 Spain About € 0, 23 per KWh ( 21 % VAT + another 6 % electricity tax are included in this price ) 000000002017 - 12 - 01 - 0000 December 2017 Sri Lanka Priced into sections at a kWh / month, subsidized 7000162000000000000 ♠ 1.62 @ 0 - 30 kWh / M + fixed charge / M USD 0.20 7000316000000000000 ♠ 3.16 @ 31 - 60 kWh / M + fixed charge / M USD 0.39 7000511000000000000 ♠ 5.11 @ 0 - 60 kWh / M + fixed charge / MN / A 7000651000000000000 ♠ 6.51 @ 61 - 90 kWh / M + fixed charge / M USD 0.59 7001180900000000000 ♠ 18.09 @ 91 - 120 kWh / M + fixed charge / M USD 3.14 7001208600000000000 ♠ 20.86 @ 121 - 181 kWh / M + fixed charge / M USD 3.14 7001293300000000000 ♠ 29.33 @ > 180 + kWh / M + fixed charge / M USD 3.53 ( exchange rate of 153.03 LKR to 1 USD on Aug 23, 2017 ) 000000002017 - 08 - 23 - 0000 Aug 23, 2017 Solomon Islands 7001880000000000000 ♠ 88 to 99 South Africa 7001150000000000000 ♠ 15 000000002015 - 09 - 29 - 0000 Sep 29, 2015 Surinam 7000390000000000000 ♠ 3.90 to 4.84 000000002013 - 11 - 20 - 0000 Nov 20, 2013 Sweden 7000833000000000000 ♠ 8.33 000000002015 - 02 - 03 - 0000 Feb 3, 2015 Tahiti 7001250000000000000 ♠ 25 to 33.1 Taiwan Priced into a sliding scale at a kWh / month, residential service ( low - voltage ) 5.4 @ 0 - 120 kWh / M 7.9 @ 121 - 330 kWh / M ( only for Jun - Sep ) 11.7 @ 331 - 500 kWh / M ( only for Jun - Sep ) 15.3 @ 501 - 700 kWh / M ( only for Jun - Sep ) 18.1 @ 701 - 1000 kWh / M ( only for Jun - Sep ) 20.4 @ 1000 - kWh / M ( only for Jun - Sep ) 7.0 @ 121 - 330 kWh / M ( only for Oct - May ) 9.6 @ 331 - 500 kWh / M ( only for Oct - May ) 12.6 @ 501 - 700 kWh / M ( only for Oct - May ) 14.8 @ 701 - 1000 kWh / M ( only for Oct - May ) 16.1 @ 1000 - kWh / M ( only for Oct - May ) ( exchange rate of 30 TWD to 1 USD ) 000000002017 - 08 - 27 - 0000 Aug 27, 2017 Thailand Priced into a sliding scale at a kWh / month, residential service ( low - voltage ) 7.1 First 15 kWh ( 1st -- 15th ) 9 Next 10 kWh ( 16th -- 25th ) 9.81 Next 10 kWh ( 26th -- 35th ) 10.98 Next 65 kWh ( 36th -- 100th ) 11.26 Next 50 kWh ( 101st -- 150th ) 12.79 Next 250 kWh ( 151st -- 400th ) 13.4 Over 400 kWh ( up from 401st ) calculation at exchange rate 33 Baht to 1 dollar 000000002018 - 01 - 05 - 0000 January 5, 2018 Tonga 7001470000000000000 ♠ 47 000000002011 - 06 - 01 - 0000 Jun 1, 2011 Trinidad and Tobago 6998300000000000000 ♠ 0.03 000000002015 - 07 - 08 - 0000 July 8, 2015 Turkey 11.20 residential ( Low voltage ) 11.29 business ( Low voltage ) 8.78 industry ( Medium voltage ) 000000002016 - 07 - 01 - 0000 Jul 1, 2016 Turks and Caicos Islands 40.12 000000002018 - 04 - 27 - 0000 April 27, 2018 Tuvalu 7001365509999900000 ♠ 36.55 Uganda 4.44 ( first 15 kWh in a month for domestic consumers ) 19.26 ( above 15 kWh in a month for domestic consumers ) Aug 9, 2016 Ukraine 7000260000000000000 ♠ 2.6 to 10.8 000000002017 - 01 - 01 - 0000 2017 United Kingdom 7001220000000000000 ♠ 22 000000002015 - 05 - 01 - 0000 May 1, 2015 United States 7000800000000000000 ♠ 8 to 17 ; 37 43 000000002012 - 09 - 01 - 0000 Sep 1, 2012 United States Virgin Islands 7001489000000000000 ♠ 48.9 to 51.9 000000002014 - 10 - 01 - 0000 Oct 1, 2014 Uruguay 7001170700000000000 ♠ 17.07 to 26.48 000000002014 - 02 - 11 - 0000 Feb 11, 2014 Uzbekistan 7000495000000000000 ♠ 4.95 000000002011 - 01 - 01 - 0000 2011 Vanuatu 7001600000000000000 ♠ 60 Venezuela 6998160000000000000 ♠ 0.016 at commonly used unofficial exchange rate ( 3684 VEF / USD ) or 0.089 cents at official exchange rate ( 678 VEF / USD ) 2016 - 12 - 01 Vietnam 7000620000000000000 ♠ 6.20 to 10.01 000000002011 - 01 - 01 - 0000 2011 Western Samoa 7001305000000000000 ♠ 30.5 to 34.7 Zambia Residential tariff : first 200kWh in a month, it is about 2 cents ( exchange rate varies ) Then above 200kWh usage in a month, rate is 9 cents. 16 August 2017 Denotes countries with government subsidized electricity tariffs. Mexico subsidizes electricity according to consumption limits. More than 500kWh consumed bimonthly receive no subsidies. Only 1 % of Mexico 's population pays this tariff. Hawaii. Prices do n't include VAT ( 20 % ) San Diego, California high - tier The U.S. Energy Information Administration ( EIA ) also publishes an incomplete list of international energy prices, while the International Energy Agency ( IEA ) provides a thorough, quarterly review. Eurostat Electricity price statistics, Europe 2017 The following table shows electricity prices both for household and non-household consumers within the European Union ( EU ) and Iceland, Liechtenstein, Norway, Albania, Republic of Macedonia, Montenegro, Serbia, Turkey, Bosnia and Herzegovina, Kosovo, Moldova and Ukraine. H1 2017 Electricity prices ( Euro per kWh ) Country Households Non-Household Albania 0.084 - Austria 0.195 0.093 Belgium 0.280 0.113 Bosnia and Herzegovina 0.086 0.059 Bulgaria 0.096 0.076 Croatia 0.120 0.087 Cyprus 0.186 0.141 Czech Republic 0.144 0.069 Denmark 0.305 0.082 Estonia 0.121 0.087 Finland 0.158 0.067 Republic of Macedonia 0.082 0.056 France 0.169 0.099 Germany 0.305 0.152 Greece 0.194 0.107 Hungary 0.113 0.074 Iceland 0.160 0.080 Ireland 0.231 0.124 Italy 0.214 0.148 Kosovo 0.066 0.080 Latvia 0.159 0.118 Liechtenstein 0.172 0.130 Lithuania 0.112 0.084 Luxembourg 0.162 0.078 Malta 0.128 0.141 Moldova 0.098 0.083 Montenegro 0.097 0.077 Netherlands 0.156 0.082 Norway 0.164 0.071 Poland 0.146 0.088 Portugal 0.228 0.115 Romania 0.120 0.077 Serbia 0.066 0.064 Slovakia 0.144 0.115 Slovenia 0.161 0.078 Spain 0.230 0.106 Sweden 0.194 0.065 Turkey 0.105 0.063 Ukraine 0.039 - United Kingdom 0.177 0.127 Electricity price forecasting Electricity price forecasting is the process of using mathematical models to predict what electricity prices will be in the future. Forecasting methodology The simplest model for day ahead forecasting is to ask each generation source to bid on blocks of generation and choose the cheapest bids. If not enough bids are submitted, the price is increased. If too many bids are submitted the price can reach zero or become negative. The offer price includes the generation cost as well as the transmission cost, along with any profit. Power can be sold or purchased from adjoining power pools. The concept of independent system operators ( ISOs ) fosters competition for generation among wholesale market participants by unbundling operation of transmission and generation. ISOs use bid - based markets to determine economic dispatch. Wind and solar power are non-dispatchable. Such power is normally sold before any other bids, at a pre-determined rate for each supplier. Any excess is sold to another grid operator, or stored, using pumped - storage hydroelectricity, or in the worst case, curtailed. Curtailment could potentially significantly impact solar power 's economic and environmental benefits at greater PV penetration levels. Allocation is done by bidding. The effect of the recent introduction of smart grids and integrating distributed renewable generation has been increased uncertainty of future supply, demand and prices. This uncertainty has driven much research into the topic of forecasting. Driving factors Electricity can not be stored as easily as gas, it is produced at the exact moment of demand. All of the factors of supply and demand will therefore have an immediate impact on the price of electricity on the spot market. In addition to production costs, electricity prices are set by supply and demand. However, some fundamental drivers are the most likely to be considered. Short - term prices are impacted the most by weather. Demand due to heating in the winter and cooling in the summer are the main drivers for seasonal price spikes. In 2017, the United States is scheduled to add 13 GW of natural - gas fired generation to its capacity. Additional natural - gas fired capacity is driving down the price of electricity, and increasing demand. A country 's natural resource endowment, as well as their regulations in place greatly influence tariffs from the supply side. The supply side of the electricity supply is most influenced by fuel prices, and CO allowance prices. The EU carbon prices have doubled since 2017, making it a significant driving factor of price. Weather Studies show that generally demand for electricity is driven largely by temperature. Heating demand in the winter and cooling demand ( air conditioners ) in the summer are what primarily drive the seasonal peaks in most regions. Heating degree days and cooling degree days help measure energy consumption by referencing the outdoor temperature above and below 65 degrees Fahrenheit, a commonly accepted baseline. In terms of renewable sources like solar and wind, weather impacts supply. California 's duck curve ( cite ) shows the difference between electricity demand and the amount of solar energy available throughout the day. On a sunny day, solar power floods the electricity generation market and then drops during sunless evening, when electricity demand peaks. Hydropower availability Snowpack, streamflows, seasonality, salmon, etc. all affect the amount of water that can flow through a dam at any given time. Forecasting these variables predicts the available potential energy for a dam for a given period. Some regions such as the Egypt, China and the Pacific Northwest get significant generation from hydroelectric dams. In 2015, SAIDI and SAIFI more than doubled from the previous year in Zambia due to low water reserves in their hydroelectric dams caused by insufficient rainfall. Power plant and transmission outages Whether planned or unplanned, outages affect the total amount of power that is available to the grid. Outages undermine electricity supply, which in turn effects price. Economic health During times of economic hardship, many factories cut back production due to a reduction of consumer demand and therefore reduce production - related electrical demand. Global Markets The UK has been a net importer of energy for over a decade, and as their generation capacity and reserves decrease the level of importing is reaching an all - time high. Their fuel price 's dependence on international markets has a huge effect on the cost of electricity, especially if the exchange rate falls. Being energy dependent makes their electricity prices vulnerable to world events, as well. Government Regulation Governments may choose to make electricity tariffs affordable for their population through subsidies to producers and consumers. Most countries characterized as having low energy access have electric power utilities that do not recover any of their capital and operating costs, due to high subsidy levels. In the United States, federal interventions and subsidies for energy can be classified as tax expenditure, direct expenditures, research and development ( R&D ), and DOE loan guaruntees. Most federal subsidies in 2016 were to support developing renewable energy supplies, and energy efficiency measures. Power quality Excessive Total Harmonic Distortions ( THD ) and not unity Power Factor ( PF ) is costly at every level of the electricity market. Cost of PF and THD impact is difficult to estimate, but both can potentially cause heat, vibrations, malfunctioning and even meltdowns. Power factor is the ratio of real to apparent power in a power system. Drawing more current results in a lower power factor. Larger currents require costlier infrastructure to minimize power loss, so consumers with low power factors get charged a higher electricity rate by their utility. True power factor is made of displacement power factor and THD. Power quality is typically monitored at the transmission level. A spectrum of compensation devices mitigate bad outcomes, but improvements can be achieved only with real - time correction devices ( old style switching type, modern low - speed DSP driven and near real - time ). Most modern devices reduce problems, while maintaining return on investment and significant reduction of ground currents. Power quality problems can cause erroneous responses from many kinds of analog and digital equipment, where the response could be unpredictable. Phase balancing Most common distribution network and generation is done with 3 phase structures, with special attention paid to the phase balancing and resulting reduction of ground current. It is true for industrial or commercial networks where most power is used in 3 phase machines, but light commercial and residential users do not have real - time phase balancing capabilities. Often this issue leads to unexpected equipment behavior or malfunctions and in extreme cases fires. For example, sensitive professional analogue or digital recording equipment must be connected to well - balanced and grounded power networks. To determine and mitigate the cost of the unbalanced electricity network, electric companies in most cases charge by demand or as a separate category for heavy unbalanced loads. A few simple techniques are available for balancing that require fast computing and real - time modeling. See also Cost of electricity by source Energy economics Feed - in tariff Stranded costs Levelised energy cost Electricity market Electricity liberalization Demand response Spark spread Electricity billing in the UK Electricity meter Fixed bill References ^ Jump up to : `` Factors Affecting Electricity Prices - Energy Explained, Your Guide To Understanding Energy - Energy Information Administration ''. www.eia.gov. Retrieved 2018 - 05 - 03. Jump up ^ `` Feed - in Tariff Resources Department of Energy ''. www.energy.gov. Retrieved 2018 - 05 - 03. Jump up ^ `` Net Metering SEIA ''. SEIA. Retrieved 2018 - 05 - 03. Jump up ^ `` Lazard 's Levelized Cost Of Energy Analysis ''. 11.0. November 2017 : 2 -- via Lazard. ^ Jump up to : `` Los precios de la energía, desiguales en el país y lejos de los valores regionales '' ( Energy prices unequal in the country and much lower in the capital ) ( in Spanish ). LA NACION. November 20, 2006. Retrieved March 30, 2012. 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External links JCM Contour Map Electricity Price Forecasting Electricity Price Comparison Service UK Electricity Price Check BG Retrieved from `` https://en.wikipedia.org/w/index.php?title=Electricity_pricing&oldid=843110249 '' Categories : Pricing Electricity economics Hidden categories : CS1 Spanish - language sources ( es ) Pages with citations lacking titles Pages with citations having bare URLs CS1 maint : BOT : original - url status unknown CS1 Belarusian - language sources ( be ) CS1 Bulgarian - language sources ( bg ) CS1 Chinese - language sources ( zh ) CS1 Romanian - language sources ( ro ) CS1 Arabic - language sources ( ar ) CS1 Korean - language sources ( ko ) CS1 Latvian - language sources ( lv ) CS1 Macedonian - language sources ( mk ) Pages using web citations with no URL Pages using citations with accessdate and no URL All articles with dead external links Articles with dead external links from January 2017 Articles with dead external links from October 2017 Articles needing additional references from November 2016 All articles needing additional references Use mdy dates from June 2013 Talk Contents About Wikipedia Español 한국어 Bahasa Indonesia Bahasa Melayu Polski Suomi Українська 中文 Edit links This page was last edited on 26 May 2018, at 23 : 26. 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Question: who is the entity that decides the rate of residential electricity price
Answer: overseen by a public utility commission