In Iceland, electricity prices for households with a consumption between 2,500 and 5,000 kilowatt-hours averaged 15.3 euro cents per kilowatt-hour in the first half of 2023. Residents of Iceland noticed a steep increase in their power bills from 2020 until 2022.
Renewable energy in Iceland
Iceland has been able to take advantage of the local environment to generate significant amounts of energy from renewable resources. Hydropower is the leading source of electricity generation in the country, making up for over 70 percent of the total electricity production of Iceland. The country has a hydropower capacity of two gigawatts.
Cheap electricity
Compared to the EU average electricity price, Iceland's electricity is significantly cheaper. For instance, the average price for EU households with a consumption between 2,500 and 5,000 kilowatt-hours annually was 28.9 euro cents in the first half of 2022, around 13 cents more than in Iceland.
Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023
(in euro cents per kilowatt-hour)
Characteristic
1,000-2,500 kWh
2,500-5,000 kWh
H1 2023
18.49
15.31
H2 2022
18.7
15.48
H1 2022
18.32
15.3
H2 2021
16.73
13.87
H1 2021
16.28
13.55
H2 2020
14.99
12.48
H1 2020
16.07
13.41
H2 2019
17.14
14.31
H1 2019
17.1
14.29
H2 2018
17.61
14.57
H1 2018
18.67
15.45
H2 2017
18.55
15.18
H1 2017
19.57
15.98
Zoomable Statistic: Select the range in the chart you want to zoom in on.
Created with Highcharts 7.2.2Electricity price in euro cents per kilowatt-hour1,000-2,500 kWh2,500-5,000 kWhH1 2012H2 2012H1 2013H2 2013H1 2014H2 2014H1 2015H2 2015H1 2016H2 2016H1 2017H2 2017H1 2018H2 2018H1 2019H2 2019H1 2020H2 2020H1 2021H2 2021H1 2022H2 2022H1 2023
102012.51517.522.5
Add this content to your personal favorites. These can be accessed from the favorites menu in the main navigation.
You have no right to use this feature.
Make sure to contact us if you are interested in scientific citation.
You can upgrade your account to enable this functionality for all statistics.
This feature is not available with your current account.Request access
Prices including all taxes, levies and VAT. Band-DB (Small): annual consumption between 1,000 and 2,500 kWh Band-DC (Medium): annual consumption between 2,500 and 5,000 kWh.
The published data are national average prices over a period over 6 months. Semester 1 prices are average prices between 1st January and 30th June of each year, semester 2 prices are average prices between 1st July and 31st December of each year.
Learn more about how Statista can support your business.
Eurostat. (October 18, 2023). Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023 (in euro cents per kilowatt-hour) [Graph]. In Statista. Retrieved February 19, 2025, from https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/
Eurostat. "Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023 (in euro cents per kilowatt-hour) ." Chart. October 18, 2023. Statista. Accessed February 19, 2025. https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/
Eurostat. (2023). Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023 (in euro cents per kilowatt-hour) . Statista. Statista Inc.. Accessed: February 19, 2025. https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/
Eurostat. "Electricity Prices for Households in Iceland from 1st Quarter 2012 to 1st Quarter 2023 (in Euro Cents per Kilowatt-hour) ." Statista, Statista Inc., 18 Oct 2023, https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/
Eurostat, Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023 (in euro cents per kilowatt-hour) Statista, https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/ (last visited February 19, 2025)
Electricity prices for households in Iceland from 1st quarter 2012 to 1st quarter 2023 (in euro cents per kilowatt-hour) [Graph], Eurostat, October 18, 2023. [Online]. Available: https://www.statista.com/statistics/643385/electricity-prices-for-households-in-iceland/
Profit from additional features with an Employee Account
Please create an employee account to be able to mark statistics as favorites.
Then you can access your favorite statistics via the star in the header.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.