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Electricity prices in Iceland

The average household electricity price in Iceland is kr 29.98/kWh (Jan – Jun 2026, Eurostat), taxes included. Running a 1,500 W heater for an hour costs about kr 45. That's about the same as the previous period. Of the 59 countries we track, Iceland is number 31 from cheapest. In US dollars that's about 23.18¢/kWh.

Calculate your cost

Leave empty to use the official price for Iceland: kr 29.98/kWh (Jan – Jun 2026).

Tariff and voltage
How you are charged

We do not have slab rates for Iceland. Use the bill analyzer to enter your own.

At 230 V it draws about 6.5 A. Voltage changes the current (amps), not the cost.

Results

Per hour: kr 45, Per day: kr 360, Per month: kr 10,937

Per hour
kr 45
Per day
kr 360
Per month
kr 10,937
Per year
kr 131,312

1.5 kWh per hour · 12 kWh per day

Based on 1,500 W for 8 h a day, 30.4 days a month, at kr 29.98/kWh.

On slab (tiered) tariffs, use the price of the highest slab your bill reaches: that's what each extra unit really costs.

What appliances cost to run in Iceland

ApplianceTypical usePer hourPer dayPer month
Heat pump2,000 W, 24 h a daykr 30kr 720kr 21,873
Space heater1,500 W, 8 h a daykr 45kr 360kr 10,937
Electric water heater4,000 W, 3 h a daykr 120kr 360kr 10,937
Pool pump1,500 W, 6 h a daykr 45kr 270kr 8,203
Hot tub5,500 W, 24 h a daykr 8.24kr 198kr 6,015
Oil-filled radiator1,500 W, 8 h a daykr 22kr 180kr 5,468
Air conditioner1,000 W, 8 h a daykr 18kr 144kr 4,375
Clothes dryer3,000 W, 1 h a daykr 72kr 72kr 2,187
Dehumidifier300 W, 8 h a daykr 8.99kr 72kr 2,187
Gaming PC400 W, 4 h a daykr 12kr 48kr 1,458
Air cooler200 W, 8 h a daykr 6.00kr 48kr 1,458
Electric shower9,500 W, 0.13 h a daykr 285kr 38kr 1,152
Refrigerator150 W, 24 h a daykr 1.57kr 38kr 1,148
Water dispenser450 W, 24 h a daykr 1.50kr 36kr 1,093
Kotatsu600 W, 5 h a daykr 5.40kr 27kr 820
Water pump750 W, 1 h a daykr 22kr 22kr 684
Home UPS or inverter30 W, 24 h a daykr 0.90kr 22kr 656
Electric blanket150 W, 8 h a daykr 2.25kr 18kr 547
Christmas lights100 W, 6 h a daykr 3.00kr 18kr 547
Ceiling fan60 W, 10 h a daykr 1.80kr 18kr 547
Game console200 W, 3 h a daykr 6.00kr 18kr 547
Washing machine2,000 W, 1 h a daykr 15kr 15kr 456
TV80 W, 5 h a daykr 2.40kr 12kr 365
Hair dryer1,800 W, 0.17 h a daykr 54kr 9.01kr 274
Electric kettle2,000 W, 0.15 h a daykr 60kr 8.99kr 273
Microwave1,200 W, 0.25 h a daykr 36kr 8.99kr 273
Air fryer1,700 W, 0.5 h a daykr 18kr 8.92kr 271
Rice cooker500 W, 0.5 h a daykr 15kr 7.50kr 228
Wi-Fi router10 W, 24 h a daykr 0.30kr 7.20kr 219

About electricity prices in Iceland

Iceland generates virtually all of its electricity from hydropower and geothermal plants, on an isolated grid with no connection to other countries. The bulk of production goes to energy-intensive industries such as aluminium smelting, while households account for a small share of total demand.

The retail market is liberalised with a handful of suppliers, and bills are issued in Icelandic krónur, separating the energy price from the distribution charge of the regional network company. Most homes are heated with geothermal hot water through district heating, so electricity is used mainly for appliances and lighting; in areas without geothermal resources, electric heating is subsidised. The National Energy Authority oversees the sector.

Other countries

Sources