According to research by Eurostat in the race to the most expensive electricity in the world, this week the UK is the winner. The bottom line is that from 2008 the price of electricity in China fell from €100 down to €80 per megawatt hour. While in Australia it rose from €125 to €300 and in the UK prices rose from €150 to €360.
Effectively, the price of electricity fell 20% in China at the same time as it rose 240% in Australia and the UK. the percentage of wind and solar power penetration on each national grid pretty much predicts the order of the price graphs the EU collated. Among this pool, the nation with the highest penetration of wind and solar power is the UK which gets 29% of its electricity from wind and solar power. Australia is second at 26%, and the EU collective third at 22%.
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