Cyprus Mail

Cyprus sees biggest hike in EU domestic electricity prices

Domestic electricity prices went up over 12 per cent in the second half of 2017

Household electricity prices in the second half of 2017 went up by 12.6 per cent, the biggest price increase in the EU at the time, figures released by Eurostat showed on Wednesday.

Including all taxes and levies, the price in Cyprus stood at €18.30 per 100 kWh, a hike of 12.6 per cent over the same period the previous year.

From the total price during the period, almost one quarter, around €4 to €4.50 per 100 kWh went on taxes and levies including VAT and the renewable energy tariff.

During the same period, household electricity prices in the EU decreased slightly by -0.2 per cent on average, between the second half of 2016 and the second half of 2017, to stand at €20.5 per 100 kWh putting Cyprus a little under the average,

Across member states, household electricity prices in the second half of 2017 ranged from below €10 per 100 kWh in Bulgaria to more than €30 per 100 kWh in Denmark and Germany.
Taxes and levies across the EU generally made up on average around 40 per cent of the electricity price charged to households in the period. In Greece prices stood at €16.20 per 100 kWh out of which 33 per cent comprised taxes and levies. Denmark had the highest percentage of taxes and levies at 69 per cent of the price per 100 kWh. In Germany the figure was 55 per cent.

Across the bloc the highest increase in household electricity prices in the period was registered in Cyprus with 12.6 per cent, followed by Romania 7.2 per cent, Malta 7.1 per cent, Estonia 6.5 per cent and the UK 5.3 per cent.

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