The UK has the highest electricity bills in the world, shocking new research has revealed.
A new study looking at Government data on electricity and gas prices over the past five years found that Brits pay more for their power than anywhere else on the planet.
The data, compiled by BOXT, was shared with City A.M. today, showing the UK ranks ahead of Ireland, Spain and Belgium in the top 10 list.
Top 10 countries by energy price
Rank/ Country/ Price in pence per kWh
1 United Kingdom 19.31
2 Ireland 18.99
3 Spain 18.51
3 Belgium 16.34
3 Japan 15.64
6 Australia 14.01
7 Switzerland 14.00
8 Netherlands 13.98
9 Germany 13.58
10 Czech Republic 12.69
The UK also doesn’t fare particularly well when it comes to electricity bill price increases, coming in third spot behind Norway and Finland.
Top 10 countries with the biggest electricity bill price increase
Rank/ Country/ 5-year difference
1 Norway 91 per cent
2 Finland 37 per cent
3 United Kingdom 35 per cent
3 Czech Republic 35 per cent
3 Denmark 35 per cent
6 Greece 31 per cent
7 Netherlands 29 per cent
8 France 28 per cent
9 Poland 23 per cent
10 Ireland 20 per cent
The research comes as one of the UK and Europe’s biggest gas producers became the latest energy firm to stoke mounting anger over “grotesque” record-breaking annual profits.
Norwegian firm Equinor posted underlying earnings of 74.9 billion US dollars (£61.9 billion), more than double the 33.5 billion US dollars (£27.7 billion) it made in 2021.
On a net profit basis, it reported 28.7 billion US dollars (£23.8 billion) compared with profits of 8.6 billion US dollars (£7.1 billion) in 2021.
It follows similar mammoth bottom line profits for oil and gas giants in recent days thanks to last year’s soaring energy prices, with BP and Shell both posting record-breaking figures for 2022, at £23 billion and £33 billion respectively.
Related: Snap general election ‘would leave Tories as Westminster’s third party’, Telegraph poll reveals