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Businesses in Cyprus paid about 28% more for electricity than the EU average in the first half of 2026, according to Eurostat figures released Wednesday.
The average rate in Cyprus was 23 cents per kilowatt-hour, compared with 18 cents across the EU. That’s a difference of €50 for every 1,000 kilowatt-hours used. For businesses that run refrigerators, air conditioning or machinery for hours every day, those five cents can add up quickly.
Cyprus and Italy both averaged 23 cents, while Ireland recorded the highest rate in the EU at 27 cents. At the other end of the scale, Finland had the lowest rate at 9 cents, followed by Sweden at 12 cents. Denmark, Spain and Portugal each averaged 13 cents.
Across the EU, the average rate fell 2% from the second half of 2025 and 5.4% from the same period a year earlier.
Eurostat’s comparison covers businesses and other non-household customers that use between 500 and 2,000 megawatt-hours a year. For shoppers, the figures help explain one cost that electricity-intensive businesses have to factor into their budgets, from keeping supermarket freezers cold to cooling hotel rooms.
