Finance

Uncovering the Hidden Costs of Global Utilities

Our utilities play a very vital role in our day-to-day lives, they’re important for society to function successfully. We rely on our utilities for basically everything and with the cost of living rising, it’s not a surprise that the cost of utilities is going up too.

The rising cost of living doesn’t have to get you down too much if you start implementing some energy-efficient strategies at home and work. Trying to reduce your energy consumption is one of the main ways that you can reduce your utility bills. Easy ways to do this are to switch off lights when you leave a room, not leave appliances on standby, and dress in layers instead of heating the house too much.

Another way that you can potentially lower your utility bills is to upgrade your appliances and make sure they’re energy efficient. You may also consider installing smart meters and thermostats in your home. One of the best options is to consider switching your energy supplier. Keep an eye out for the best deals on utilities from energy suppliers that have coverage in your area.

Denmark and Germany

source:sbs.com.au

As of June 2022, Denmark and Germany have some of the highest electricity prices globally. Electricity prices will vary from country to country depending on certain factors such as the available infrastructure and the taxes and levies.

For these reasons, electricity prices can even vary in a country from city to city. The average price of electricity per kWh is around £0.44 in both countries. On the other end of the spectrum, countries like Qatar, Saudi Arabia, and Iran have some of the cheapest electricity prices in the world. In these places, the average price of electricity per kWh is less than £0.08.

The Netherlands

The highest prices for natural gas in the world are typically found in European countries like the Netherlands. The factors that affect natural gas prices are taxes, levies, and the state of local production.

In the Netherlands, the average price of natural gas per kWh is around £0.34. On the other hand, places that are producers of natural gas like Canada only pay around £0.03 per kWh.

Norway

source:thenorwayguide.com

The prices of water vary from place to place depending on the amount of taxes charged, such as VAT, as well as the environmental charges (sewerage and wastewater treatment). As with natural gas, the highest tap water prices globally can be found in European countries and cities.

The most expensive tap water in the world is in Oslo, where water averages £5.52 per cubic meter. Stuttgart in Germany has the second most expensive tapwater prices in Europe with the water averaging £4.68 per cubic meter. In comparison, the cheapest tap water prices can be found in Riyadh where the average price is £0.03 per cubic meter.

Burundi

If you’re considering escaping the rising prices by becoming a digital nomad, you’ll want to pay attention to this one. When it comes to the cost of internet packages, Sub-Saharan Africa comes in at the top worldwide.

When it comes to determining the price of internet packages, there are a few factors that have to be taken into consideration. Of course, supply and demand will play a big part of it. Another factor is the available infrastructure, population density, and topography.

In fact, 37 countries in that region are in the most expensive half of the spectrum. At £354.72, Burundi has the most expensive internet prices monthly. On the other end, Syria has the cheapest internet with a monthly internet package averaging around £1.77.

UK

source:metro.co.uk

We’ll look at the UK for comparison’s sake. Energy bills have increased dramatically in the UK due to the fluctuation of prices in wholesale gas and electricity. Consumers are having to make up for this, and they’re feeling the pinch.

So how does the UK stack up against the other countries on our list? On average, the gas bill monthly is about £47.92. The average monthly electricity bill is £64 and an internet package will cost you back just over £30.

Final Thoughts

Globally, we’re all feeling the pinch when it comes to the ever-increasing cost of living. Hopefully, we can find ways to reduce our monthly expenses by cutting down on our utility bills. And if that doesn’t work, you know which countries to avoid when looking for more affordable options!

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

95  −  86  =  

Back to top button