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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
9 hours ago
- Shafaq News
Iraq's President in France for UN ocean summit
Shafaq News/ Iraqi President Abdul Latif Rashid arrived in France on Sunday to attend the United Nations Ocean Conference, where he is expected to meet French President Emmanuel Macron for high-level discussions. The conference brings together world leaders to address marine pollution, climate resilience, and the sustainable management of ocean resources. An Iraqi official familiar with the visit indicated that discussions with the French side are expected to focus on infrastructure initiatives, expanding environmental cooperation, and following up on previously signed agreements. Earlier today, President Rashid emphasized Iraq's interest in strengthening its partnership with France, reiterating a commitment to cooperation across political, environmental, and economic spheres. He also reaffirmed Baghdad's policy of neutrality in global affairs, pointing to strategic partnerships as a means to advance the country's economic reform agenda. The visit follows earlier discussions between Macron and Iraqi Prime Minister Mohammed Shia al-Sudani, who met in March to review the $17B Development Road project. The initiative aims to link Asia and Europe through Iraq, with the potential to generate up to one million jobs. Since 2023, Iraq and France have formalized a series of agreements spanning energy, defense, and transportation. Baghdad is currently preparing to host an Iraq–France business forum, an event designed to enhance private-sector ties and attract new investment.
Shafaq News
10 hours ago
- Shafaq News
Turkish bulgur exports hit record high in May
Shafaq News/ Turkish bulgur exports reached a record high in May, driven by strong demand from Iraq, Italy, and Romania, the Mediterranean Exporters' Association reported on Sunday. In a statement, Feisal Memiş, President of the Association, confirmed that total bulgur exports climbed to $1.35 billion in May 2025, marking a 12% increase compared with the same month last year. The rise reflects Turkish bulgur's expanding presence in global markets, with Memiş highlighting its ''affordability, long shelf life, and versatility'' as key factors that have established it as a staple in a variety of cuisines across major export destinations.
Shafaq News
11 hours ago
- Shafaq News
PM Al-Sudani: Iraq ready to export 80 local products
Shafaq News/ On Sunday, Iraqi Prime Minister Mohammed Shia Al-Sudani announced that about 80 locally manufactured products are now ready for export, highlighting Iraq's expanding role as a regional economic hub. Speaking to tribal leaders during Eid al-Adha celebrations, Al-Sudani emphasized a renewed focus on improving management across various sectors, stressing that ongoing economic reforms aim to reduce Iraq's dependence on oil and accelerate efforts toward diversification. Al-Sudani then outlined Iraq's ambitions through the Development Road project, describing it as a 'transformative initiative' designed to position the country as a key transit route in global trade. The project, he added, seeks to build a 'new Iraq' by enhancing economic connectivity while maintaining an independent political stance on regional and international affairs. In April 2024, Iraq joined Turkiye, the United Arab Emirates, and Qatar in signing a four-party agreement to advance the Development Road. This initiative aims to stimulate economic growth, boosting regional cooperation by improving trade flows, simplifying cargo movement, and establishing a competitive transport corridor linking East and West. With an estimated investment of $17 billion, the project is expected to create around 100,000 jobs in its initial phase, with employment rising to as many as one million once fully completed.
