The price of electricity for ordinary households has remained almost unchanged in Iceland for the past eight years based on purchasing power parity and the sale of electricity in the range between 2,500-5,000 kilowatts, which is typical for household use. The same applies to Finland.
When looking at the other Nordic countries, however, electricity prices in Denmark have risen quite rapidly in the past year on the same scale. Thus, the price of electricity in that country rose by 55% between the first half of 2021 and the same period this year.
There has also been a significant increase in Norway and Sweden. Although there was a small increase between the second half of 2021 and the first half of 2022, prices rose by 50% between the second half of 2020 and the same period last year.
Based on media reports, electricity prices have continued to rise rapidly in the current half of the year in Iceland's neighbouring countries, but updated figures on electricity prices are expected early next year.