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Built 2026-10-28 (28 October 2026)

Electricity Prices in Iceland

In the first half of 2026, households in Iceland paid 20.76 euro cents/kWh with all taxes and levies included, for a typical household using 2,500 to 4,999 kWh a year. The household price in Iceland ranks 22nd dearest of 37 European countries with a Eurostat price for the first half of 2026. Taxes and levies made up 21.0% of the household price in Iceland in the first half of 2026: 16.41 euro cents/kWh before taxes and levies, 4.35 euro cents/kWh on top. In the first half of 2026, medium sized businesses in Iceland paid 14.07 euro cents/kWh with all taxes and levies included, for a typical medium sized business using 500 to 1,999 MWh a year.

Retail prices from Eurostat, a typical consumption band and not for everyone. They are not wholesale prices.

Key Facts, H1 2026

  • In the first half of 2026, households in Iceland paid 20.76 euro cents/kWh with all taxes and levies included, for a typical household using 2,500 to 4,999 kWh a year.
  • Taxes and levies made up 21.0% of the household price in Iceland in the first half of 2026: 16.41 euro cents/kWh before taxes and levies, 4.35 euro cents/kWh on top.
  • The household price in Iceland ranks 22nd dearest of 37 European countries with a Eurostat price for the first half of 2026.
  • In the first half of 2026, the household price in Iceland was 20.76 euro cents/kWh, 26.7% lower than the European Union average of 28.32 euro cents/kWh, the latest Eurostat publishes.
  • The household price in Iceland is 2.8% higher than a year earlier and 53.2% higher than five years earlier, in nominal euros, before inflation.
  • In the first half of 2026, medium sized businesses in Iceland paid 14.07 euro cents/kWh with all taxes and levies included, for a typical medium sized business using 500 to 1,999 MWh a year.
  • Taxes and levies made up 21.7% of the medium sized business price in Iceland in the first half of 2026: 11.02 euro cents/kWh before taxes and levies, 3.05 euro cents/kWh on top.
  • The medium sized business price in Iceland ranks 31st dearest of 37 European countries with a Eurostat price for the first half of 2026.
  • In the first half of 2026, the medium sized business price in Iceland was 14.07 euro cents/kWh, 34.4% lower than the European Union average of 21.46 euro cents/kWh, the latest Eurostat publishes.
  • The medium sized business price in Iceland is 10.0% higher than a year earlier and 154.9% higher than five years earlier, in nominal euros, before inflation.
  • These are retail prices paid by customers, from Eurostat. They are not the wholesale day-ahead prices, which are a different measure and are shown separately.

Households: H1 2026

Eurostat nrg_pc_204, band DC, 2,500 to 4,999 kWh a year
Electricity price for households in Iceland, the first half of 2026, at each tax level, with rank and change.
MeasureValueAs of
All taxes and levies included20.76 euro cents/kWhH1 2026
Excluding VAT and other recoverable taxes16.77 euro cents/kWhH1 2026
Excluding all taxes and levies16.41 euro cents/kWhH1 2026
Taxes and levies, share of the price21.0%H1 2026
Rank, dearest first22 of 37H1 2026
European Union average, all taxes in28.32 euro cents/kWhH1 2026
Change on a year earlier+2.8%to H1 2026
Change on five years earlier+53.2%to H1 2026

Taxes and levies made up 21.0% of the price in the first half of 2026: 16.41 euro cents/kWh before taxes and levies, 4.35 euro cents/kWh on top. Changes are in nominal euros, before inflation.

Iceland: households electricity price since the first half of 2012, before and after taxes and levies Electricity price for households in Iceland from the first half of 2012 to the first half of 2026, in euro cents per kWh, split into the price before taxes and levies and the taxes and levies on top. The total is the all taxes price, 20.76 euro cents/kWh in the first half of 2026. 0.00 6.25 12.50 18.75 25.00 H1 2012H1 2016H1 2020H1 2024
Electricity price for households in Iceland from the first half of 2012 to the first half of 2026, in euro cents per kWh, split into the price before taxes and levies and the taxes and levies on top. The total is the all taxes price, 20.76 euro cents/kWh in the first half of 2026.
Eurostat nrg_pc_204, euro cents/kWh, through H1 2026
Iceland: households electricity price since the first half of 2012, before and after taxes and levies
Half yearPrice before taxes and leviesTaxes and leviesAll taxes and levies
H1 20128.77 euro cents/kWh2.33 euro cents/kWh11.10 euro cents/kWh
H2 20129.20 euro cents/kWh2.44 euro cents/kWh11.64 euro cents/kWh
H1 20138.31 euro cents/kWh2.22 euro cents/kWh10.53 euro cents/kWh
H2 20138.46 euro cents/kWh2.26 euro cents/kWh10.72 euro cents/kWh
H1 20148.95 euro cents/kWh2.38 euro cents/kWh11.33 euro cents/kWh
H2 20149.14 euro cents/kWh2.44 euro cents/kWh11.58 euro cents/kWh
H1 20159.50 euro cents/kWh2.47 euro cents/kWh11.97 euro cents/kWh
H2 20159.98 euro cents/kWh2.67 euro cents/kWh12.65 euro cents/kWh
H1 201610.35 euro cents/kWh2.77 euro cents/kWh13.12 euro cents/kWh
H2 201611.66 euro cents/kWh3.12 euro cents/kWh14.78 euro cents/kWh
H1 201712.63 euro cents/kWh3.35 euro cents/kWh15.98 euro cents/kWh
H2 201712.00 euro cents/kWh3.18 euro cents/kWh15.18 euro cents/kWh
H1 201812.22 euro cents/kWh3.23 euro cents/kWh15.45 euro cents/kWh
H2 201811.52 euro cents/kWh3.05 euro cents/kWh14.57 euro cents/kWh
H1 201911.31 euro cents/kWh2.98 euro cents/kWh14.29 euro cents/kWh
H2 201911.32 euro cents/kWh2.99 euro cents/kWh14.31 euro cents/kWh
H1 202010.61 euro cents/kWh2.80 euro cents/kWh13.41 euro cents/kWh
H2 20209.88 euro cents/kWh2.60 euro cents/kWh12.48 euro cents/kWh
H1 202110.70 euro cents/kWh2.85 euro cents/kWh13.55 euro cents/kWh
H2 202110.95 euro cents/kWh2.92 euro cents/kWh13.87 euro cents/kWh
H1 202212.05 euro cents/kWh3.25 euro cents/kWh15.30 euro cents/kWh
H2 202212.20 euro cents/kWh3.28 euro cents/kWh15.48 euro cents/kWh
H1 202312.08 euro cents/kWh3.23 euro cents/kWh15.31 euro cents/kWh
H2 202312.74 euro cents/kWh3.40 euro cents/kWh16.14 euro cents/kWh
H1 202413.45 euro cents/kWh3.57 euro cents/kWh17.02 euro cents/kWh
H2 202414.36 euro cents/kWh3.78 euro cents/kWh18.14 euro cents/kWh
H1 202516.01 euro cents/kWh4.18 euro cents/kWh20.19 euro cents/kWh
H2 202516.49 euro cents/kWh4.31 euro cents/kWh20.80 euro cents/kWh
H1 202616.41 euro cents/kWh4.35 euro cents/kWh20.76 euro cents/kWh

Source: Eurostat (ec.europa.eu/eurostat), datasets nrg_pc_204 and nrg_pc_205, electricity prices for household and non household consumers, bi-annual data. Selected and charted by World Power Monitor. (Eurostat reuse policy) Data as of the first half of 2026. Prices for households in consumption band DC (2,500 to 4,999 kWh a year), in euros.

Medium Sized Businesses: H1 2026

Eurostat nrg_pc_205, band IC, 500 to 1,999 MWh a year
Electricity price for medium sized businesses in Iceland, the first half of 2026, at each tax level, with rank and change.
MeasureValueAs of
All taxes and levies included14.07 euro cents/kWhH1 2026
Excluding VAT and other recoverable taxes11.37 euro cents/kWhH1 2026
Excluding all taxes and levies11.02 euro cents/kWhH1 2026
Taxes and levies, share of the price21.7%H1 2026
Rank, dearest first31 of 37H1 2026
European Union average, all taxes in21.46 euro cents/kWhH1 2026
Change on a year earlier+10.0%to H1 2026
Change on five years earlier+154.9%to H1 2026

Taxes and levies made up 21.7% of the price in the first half of 2026: 11.02 euro cents/kWh before taxes and levies, 3.05 euro cents/kWh on top. Changes are in nominal euros, before inflation.

Iceland: medium sized businesses electricity price since the first half of 2016, before and after taxes and levies Electricity price for medium sized businesses in Iceland from the first half of 2016 to the first half of 2026, in euro cents per kWh, split into the price before taxes and levies and the taxes and levies on top. The total is the all taxes price, 14.07 euro cents/kWh in the first half of 2026. 0.00 3.75 7.50 11.25 15.00 H1 2016H1 2020H1 2024
Electricity price for medium sized businesses in Iceland from the first half of 2016 to the first half of 2026, in euro cents per kWh, split into the price before taxes and levies and the taxes and levies on top. The total is the all taxes price, 14.07 euro cents/kWh in the first half of 2026.
Eurostat nrg_pc_205, euro cents/kWh, through H1 2026
Iceland: medium sized businesses electricity price since the first half of 2016, before and after taxes and levies
Half yearPrice before taxes and leviesTaxes and leviesAll taxes and levies
H1 20167.14 euro cents/kWh1.98 euro cents/kWh9.12 euro cents/kWh
H2 20166.30 euro cents/kWh1.10 euro cents/kWh7.40 euro cents/kWh
H1 20177.68 euro cents/kWh2.12 euro cents/kWh9.80 euro cents/kWh
H2 2017n/an/an/a
H1 20187.56 euro cents/kWh1.05 euro cents/kWh8.61 euro cents/kWh
H2 20183.80 euro cents/kWh1.11 euro cents/kWh4.91 euro cents/kWh
H1 20195.58 euro cents/kWh1.14 euro cents/kWh6.72 euro cents/kWh
H2 20195.59 euro cents/kWh1.13 euro cents/kWh6.72 euro cents/kWh
H1 20207.13 euro cents/kWh1.07 euro cents/kWh8.20 euro cents/kWh
H2 20207.04 euro cents/kWh0.97 euro cents/kWh8.01 euro cents/kWh
H1 20214.49 euro cents/kWh1.03 euro cents/kWh5.52 euro cents/kWh
H2 20217.04 euro cents/kWh1.92 euro cents/kWh8.96 euro cents/kWh
H1 20227.32 euro cents/kWh2.02 euro cents/kWh9.34 euro cents/kWh
H2 20227.75 euro cents/kWh2.21 euro cents/kWh9.96 euro cents/kWh
H1 20237.57 euro cents/kWh2.19 euro cents/kWh9.76 euro cents/kWh
H2 20237.78 euro cents/kWh2.16 euro cents/kWh9.94 euro cents/kWh
H1 20248.35 euro cents/kWh2.39 euro cents/kWh10.74 euro cents/kWh
H2 20249.44 euro cents/kWh2.54 euro cents/kWh11.98 euro cents/kWh
H1 202510.06 euro cents/kWh2.73 euro cents/kWh12.79 euro cents/kWh
H2 202510.49 euro cents/kWh2.84 euro cents/kWh13.33 euro cents/kWh
H1 202611.02 euro cents/kWh3.05 euro cents/kWh14.07 euro cents/kWh

Source: Eurostat (ec.europa.eu/eurostat), datasets nrg_pc_204 and nrg_pc_205, electricity prices for household and non household consumers, bi-annual data. Selected and charted by World Power Monitor. (Eurostat reuse policy) Data as of the first half of 2026. Prices for medium sized businesses in consumption band IC (500 to 1,999 MWh a year), in euros.

Electricity Prices in Iceland: Questions

How much does electricity cost for a household in Iceland?

In the first half of 2026, households in Iceland paid 20.76 euro cents/kWh with all taxes and levies included, for a typical household using 2,500 to 4,999 kWh a year. Taxes and levies made up 21.0% of the household price in Iceland in the first half of 2026: 16.41 euro cents/kWh before taxes and levies, 4.35 euro cents/kWh on top. The household price in Iceland ranks 22nd dearest of 37 European countries with a Eurostat price for the first half of 2026.

How much does electricity cost for a business in Iceland?

In the first half of 2026, medium sized businesses in Iceland paid 14.07 euro cents/kWh with all taxes and levies included, for a typical medium sized business using 500 to 1,999 MWh a year. Taxes and levies made up 21.7% of the medium sized business price in Iceland in the first half of 2026: 11.02 euro cents/kWh before taxes and levies, 3.05 euro cents/kWh on top. The medium sized business price in Iceland ranks 31st dearest of 37 European countries with a Eurostat price for the first half of 2026.

Is electricity in Iceland dearer than the European Union average?

In the first half of 2026, the household price in Iceland was 20.76 euro cents/kWh, 26.7% lower than the European Union average of 28.32 euro cents/kWh, the latest Eurostat publishes.

Cite this page
APA 7

World Power Monitor. (2026). Iceland Electricity Prices: What Households and Businesses Pay. https://worldpowermonitor.com/retail-prices/iceland/

Plain text

World Power Monitor. Iceland Electricity Prices: What Households and Businesses Pay. Data as of 2026-S1. Data from Eurostat. https://worldpowermonitor.com/retail-prices/iceland/

BibTeX 
@misc{wpm_retail_prices_iceland_2026,
  title = {{Iceland Electricity Prices: What Households and Businesses Pay}},
  author = {{World Power Monitor}},
  year = {2026},
  note = {Data as of 2026-S1. Data from Eurostat.},
  url = {https://worldpowermonitor.com/retail-prices/iceland/}
}

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