In normal circumstances, I would never pay much attention to the electricity price, but being a proud owner of a small ethereum gpu mining rig I started to explore my options.
According to my findings so far, the cheapest electricity is found in Ukraine. While the cheapest electricity within European Union in Bulgaria. Actually, I believe I myself enjoy pretty low electricity prices for my GPU mining rig located in Georgia (~$0.088 per kWh).
Now, what about the rest of Europe?
Electricity pricing varies widely from country to country in Europe and may vary significantly from locality to locality within a particular country. Many factors go into determining an electricity tariff, such as the price of power generation, government subsidies, local weather patterns, transmission and distribution infrastructure, and industry regulation.
Electricity tariffs vary by type of customer, typically by residential, commercial, and industrial connections. In this article, I will focus on electricity prices for households
Electricity prices in Europe 2018
The map above and following table shows electricity prices for household consumers within the European Union (EU) and Iceland, Liechtenstein, Norway, Albania, Republic of Macedonia, Montenegro, Serbia, Turkey, Bosnia and Herzegovina, Kosovo, Moldova, and Ukraine
Electricity prices (USD/EUR per kWh)
| Rank | Country | Price EUR | Price USD |
| 1 | Ukraine | €0.04 | $0.05 |
| 2 | Kosovo | €0.07 | $0.08 |
| 3 | Serbia | €0.07 | $0.08 |
| 4 | Republic of Macedonia | €0.08 | $0.10 |
| 5 | Albania | €0.08 | $0.10 |
| 6 | Bosnia and Herzegovina | €0.09 | $0.10 |
| 7 | Bulgaria | €0.10 | $0.11 |
| 8 | Montenegro | €0.10 | $0.11 |
| 9 | Moldova | €0.10 | $0.12 |
| 10 | Turkey | €0.11 | $0.12 |
| 11 | Lithuania | €0.11 | $0.13 |
| 12 | Hungary | €0.11 | $0.13 |
| 13 | Croatia | €0.12 | $0.14 |
| 14 | Romania | €0.12 | $0.14 |
| 15 | Estonia | €0.12 | $0.14 |
| 16 | Malta | €0.13 | $0.15 |
| 17 | Czech Republic | €0.14 | $0.17 |
| 18 | Slovakia | €0.14 | $0.17 |
| 19 | Poland | €0.15 | $0.17 |
| 20 | Netherlands | €0.16 | $0.18 |
| 21 | Finland | €0.16 | $0.19 |
| 22 | Latvia | €0.16 | $0.19 |
| 23 | Iceland | €0.16 | $0.19 |
| 24 | Slovenia | €0.16 | $0.19 |
| 25 | Luxembourg | €0.16 | $0.19 |
| 26 | Norway | €0.16 | $0.19 |
| 27 | France | €0.17 | $0.20 |
| 28 | Liechtenstein | €0.17 | $0.20 |
| 29 | United Kingdom | €0.18 | $0.21 |
| 30 | Cyprus | €0.19 | $0.22 |
| 31 | Greece | €0.19 | $0.23 |
| 32 | Sweden | €0.19 | $0.23 |
| 33 | Austria | €0.20 | $0.23 |
| 34 | Italy | €0.21 | $0.25 |
| 35 | Portugal | €0.23 | $0.27 |
| 36 | Spain | €0.23 | $0.27 |
| 37 | Ireland | €0.23 | $0.27 |
| 38 | Belgium | €0.28 | $0.33 |
| 39 | Denmark | €0.31 | $0.36 |
| 40 | Germany | €0.31 | $0.36 |
Data source: Electricity pricing
USD value was calculated on June 9, 2018, with exchange rate 1 EUR = 1.18 USD
I believe there is no surprise seeing the less developed European countries with the cheapest electricity
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