Iraq among top 11 worldwide for cheapest electricity

Shafaq News/ Iraq ranked 11th in the world and 4th among the Arab countries in the list of the cheapest electricity prices for 2024, according to a report published by the “Global Petrol Prices” website, a platform specializing in economics.

According to a table published, Iraq ranked 11th out of 147 countries for electricity prices in 2024. The data shows that the cost of electricity in Iraq is 0.015$ per kWh for residential use, and 0.046$ per kWh for commercial.

On a global scale, Iran secured the top spot for the cheapest electricity prices, with a rate of just 0.002$ per kWh. Ethiopia ranked 2nd, offering electricity at 0.003$ per kWh, followed by Cuba in 3rd place at 0.006$ per kWh.

Syria and Sudan ranked 3rd with the same price of 0.006$ per kWh, followed by Libya at 0.008$.

On the other side of the list, Bermuda ranked last as the most expensive country in terms of electricity prices, with a price of 0.458$ per kWh, followed by Italy at 0.450$.

In the Arab world, Syria had the lowest electricity prices, ranking 1st, followed by Sudan in 2nd place, Libya in 3rd, and Iraq in 4th. Egypt came in 5th at 0.019$ per kWh, while Oman ranked sixth with a price of 0.020$ per kWh, and Kuwait placed 7th at 0.029$ per kWh.

In the United States, the world’s largest economy, electricity costs 0.145$ per kWh, which is slightly below the global average. China's rates are even lower, at 0.09$ per kWh, despite being the 2nd largest economy. German businesses pay significantly more, with electricity priced at 0.252$ per kWh, while Japan falls in between at 0.192$ per kWh.