- New research by Compare the Market ranks 20 countries for electricity price impact
- Scores were based on average usage cost-to-income ratios and per capita search volume for ‘electricity saving’ phrases
- Czechia had the highest score, followed by Australia and Finland, suggesting these countries are feeling the impact the most
Everyone is feeling the squeeze when it comes to electricity bills, but a variety of factors mean that some countries are facing a bigger impact than others.
New research by Compare the Market AU has ranked 20 countries in order from most ‘electricity price pain factor’ to least.
Czechia had the highest score at 8.95/10. The nation had the highest average cost-to-average income ratio, with 40% of Czechs’ annual income going to electricity bills. Out of the 20 countries analysed by Compare the Market, Czechia had the fifth highest search volume per capita for ‘electricity saving’ related queries online at 2.47 per 100,000 people.
Australia was second at 8.16/10. While Australia’s average cost-to-income ratio was only the seventh-highest at 22%, it had the highest search volume for electricity saving phrases at 9.93 per 100,000 people – indicating that a lot of Australians are feeling the squeeze from their electricity bills.
Finland was third with a score of 7.37/10. Finnish average electricity costs compared to income had a slightly higher ratio than Australia with annual electricity spend taking up a quarter of annual average income. However, Finland scored lower than Australia because the per capita rate of people searching for electricity saving keywords was 1.99 – much lower than Australia.
The top 10 highest ranking nations are listed in the table below.
| Country | Average electricity cost to annual income ratio | Energy saving related query search volume per capita | Index score |
| Czechia | 40% | 2.47 | 8.95 |
| Australia | 22% | 9.93 | 8.16 |
| Finland | 25% | 1.99 | 7.37 |
| Denmark | 24% | 2.22 | 7.10 |
| Norway | 24% | 1.85 | 6.57 |
| Ireland | 21% | 3.97 | 6.32 |
| Belgium | 37% | 0.78 | 6.31 |
| Luxembourg | 17% | 7.81 | 5.79 |
| UK | 18% | 4.01 | 5.79 |
| Germany | 31% | 0.50 | 5.26 |
Compare the Market’s Head of Energy, Meredith O’Brien, said there are a number of things people can do to save on electricity costs.
“There are basic steps we could all be a little better at, such as turning devices off at the wall to avoid using standby power, and making sure we are turning lights and other devices off when we don’t need them, but there are other things too. For example, upgrading to more energy efficient appliances will also help you save on electricity,” Ms O’Brien said.
“The biggest thing people can do is to understand the type of tariff they are on and how to best work around it, particularly in Australia.
“There are different types of electricity tariffs, which can impact your bill in different ways. Some might charge a flat rate, while others will charge you more during busy periods. Learning how to plan your energy usage around your electricity tariff can have a huge impact on the size of a bill.”
To view the full list of country results, additional energy saving tips and data methodology, visit: https://www.comparethemarket.com.au/energy/features/power-price-pain-2023/
