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Hungary in the TOP 5 of most affordable electricity prices in the world!
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New research has revealed the top 10 countries in the world with the most affordable electricity prices, and Hungary ranks 5th, with a household electricity price per kWh of $0.114. First is Argentina ($0.036), the second is Malaysia ($0.05), while the third one is Belarus ($0.091) in that regard.
The team at Utility Bidder have analysed electricity and gas costs, property prices and the average gross national income in countries across the world to reveal the most affordable destinations to relocate to. You can view the full study HERE.
Here are some additional finginds of the research:
- With a score of 8.71 /10, the United States has been crowned the most affordable country to live in. Taking the top spot, with an overall affordability score of 8.71 /10, is the United States. As one of the largest countries by area, you will find a lot of variation when it comes to the cost of living. Having said this, the US has a high gross national income of £56,035 ($70,930 | €63,837) and a low property price-to-income ratio of 4.5 which suggests that, on average, this country is more affordable to live in than any other on this list.
- Canada has an overall affordability score of 7.32 /10 which is the second highest of any country in this list. As the second North American country in this top three, it appears that this continent is superior in terms of the overall affordability of living. Some of the factors that have contributed to Canada’s position on this ranking are the low household natural gas price of £0.035 ($0.044 | €0.040) per kWh, and household electricity price of £0.09 ($0.12 | €0.11) per kWh.
- Completing this top three list of the overall most affordable countries to live in is Australia with a score of 7.23 /10. Whilst some expenses in this country have skyrocketed in price, it appears that Australia is one of the most affordable places to live when it comes to the price of household bills, evidenced by the £0.069 ($0.085 | €0.079) price of natural gas per kWh, and a 7.5 property price-to-income ratio.