- The UK has the third highest price increase for electricity worldwide.
- The unit price of electricity in the UK has risen by 35% in the last five years.
The UK has the third highest price increase for electricity worldwide after Norway and Finland. Since 2016, there has been a 35% increase in the UK’s average unit price of electricity.
According to new research by BOXT, the unit price for electricity in the UK has risen by 35% in the last five years, from 14.35 pence/kWh to 19.31 pence/kWh.
The government has introduced measures to help households and businesses cope with soaring energy bills. The Energy Price Guarantee and the 400 pounds non-repayable bill discount are among these measures.
Norway is the country where electricity prices have risen the most in the last five years, an estimated 91%. Households in Finland have seen a 37% increase in their electricity bills since 2016.