Industry power prices in Germany, Europe and the US are at the centre of political discussions. In this brief study, Agora Energiewende sheds light on the possibilities and limits of comparing power prices for energy intensive industries in different countries. The study is based on power market prices, as these are relevant for large industrial customers. It shows that since 2011 these have been falling across large parts of Europe. The lowest prices are in Germany, Poland and the Czech Republic. At the same time, power market prices in the US have been rising, so that the power price in Germany was already lower than in some US regions in 2013.