Newsroom
Cyprus had the second highest electricity prices in the European Union relative to consumer purchasing power in the second half of 2024, according to new data from Eurostat, the EU’s statistical agency.
Measured by purchasing power standards (PPS), Cyprus scored 35.7, placing just behind the Czech Republic (41.0) and ahead of Germany (35.2). The PPS metric accounts for national income levels, offering a clearer view of cost burdens on consumers.
In absolute terms, Cypriot households paid less than their German or Danish counterparts but still faced considerable costs compared to lower-priced countries like Hungary (€10.32 per 100 kWh) and Bulgaria (€12.17). The EU average stood at €28.72 per 100 kWh, a slight decrease from €28.89 in the first half of the year.
Though average electricity prices across the EU remained mostly stable, Eurostat noted major fluctuations in individual countries. Prices surged in Portugal, Finland and France, while Latvia, the Netherlands and Belgium saw significant drops.
Across the bloc, electricity bills reflected a slightly higher share of taxes, rising to 25.1% of total costs, even as energy supply costs decreased. Network charges, however, increased in 18 EU countries, contributing to an 8.9% year-over-year rise in overall network expenses.
Non-household electricity prices also stabilized, with more EU nations reporting decreases than increases. Cyprus, though not highlighted in the non-household category, remains a focal point due to its high household electricity burden.
