Denmark has the highest electricity prices of all the OECD countries, according to a new report.
Electricity prices increased by more than 83 percent between 2002 and 2012, both for private households and the majority of businesses, according to the third edition of the International Business Compass study published by German financial auditing firm BDO in collaboration with the Hamburg Institute for Economy, Science and Information.
Renewable energy to blame
Denmark’s average of 29.83 euro cents gross per kilowatt hour is slightly higher than in Germany (26.36), more than double that of France (13.63) and three times that of the US (9.25).
In a statement released on the German site Presseportal, the head of the study, Michael Bräuninger, attributes the pronounced increase mainly to the country's transition to renewable energy sources.