Are Brits paying far too much for their energy?

UK’s electricity tariffs are among the most expensive in the world, according to new research

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The UK has some of the most expensive electricity tariffs, a new study finds.

Researchers from the price comparison website Cable.co.uk suggest that the UK average cost per kWh at $0.251 (£0.19) makes it the fifth most expensive among those existing in Western European countries.

The research which analysed 3,883 tariffs across 230 countries found that the average cost per kWh of an energy tariff in the UK is 29.6% higher than the Western European average of $0.194 (£0.15) and 52.4% than the global average of $0.165 (£0.12) per kWh.

Overall, of these 3,883 energy tariffs the study suggests the UK sits in 190th place.

The report shows that Libya offers the cheapest electricity in the world at just $0.007 (£0.005) per KWh while the most expensive electricity in the world can be found in the Solomon Islands, where one KWh will set you back $0.692 (£0.52).

Commenting on the finding of the research, Research Analyst Dan Howdle, said: “Anyone living in the UK knows we pay a heck of a lot for our energy, especially when recent events pertaining to the wholesale pricing of gas are taken into consideration.

“To see the stark reality of just how much worse off the UK is compared to the rest of the world is, however, surprising.

“Almost every European nation is cheaper. Most African nations? Cheaper. There are even island nations where energy production is especially difficult that charge less than when we are charged in the UK.”

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