Iraq in global top 10 for cheapest electricity

Shafaq News/ Iraq ranked tenth worldwide and third among Arab countries in terms of the lowest electricity consumption tariffs by the end of 2024.

According to GlobalPetrolPrices.com, a website specializing in economic indicators, electricity prices in Iraq stood at $0.015 per kilowatt-hour for residential use and $0.046 per kilowatt-hour for commercial consumption.

Globally, out of 140 countries, Zimbabwe topped the list with the cheapest electricity at $0.001 per kilowatt-hour, followed by Ethiopia at $0.003, Iran at $0.004, Cuba at $0.006, and Sudan at $0.006. Libya came in seventh with $0.007 per kilowatt-hour.

At the opposite end, Bermuda recorded the highest electricity prices globally, reaching $0.472 per kilowatt-hour, followed by the Cayman Islands at $0.435.

Within the Arab world, Sudan ranked first for the cheapest electricity tariffs, followed by Libya in second, Iraq third, Egypt fourth at $0.018 per kilowatt-hour, Syria fifth at $0.019, Oman sixth at $0.026, and Qatar seventh at $0.032.

Meanwhile, the Iraqi Ministry of Electricity predicts that national demand could reach 55,000 megawatts during peak summer months.

Current output hovers around 16,000 megawatts, with authorities targeting more than 27,000 megawatts by mid-year to mitigate chronic blackouts.