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Cyprus has seventh most expensive electricity in EU

Cyprus ranks as the seventh most expensive electricity market in the EU and second as regards increases in household electricity prices, according to data released on Tuesday by Eurostat, the statistical service of the EU.

According to the survey, during the first half of 2019, average household electricity prices in the European Union (EU) increased slightly compared with the first half of 2018 (at €20 per 100 kWh), standing at €21 per 100 kWh.

The survey showed that Cyprus ranks as the seventh most expensive electricity market, with 0.2203 euro per kWh (0.172 excluding taxes and levies). Greece ranks as the 12th lowest priced electricity market at 0.1650 euro per kWh (0.1139 excluding taxes and levies).

Expressed in euro, average household electricity prices in the first half of 2019 were lowest in Bulgaria (€9.9 per 100 kWh), Hungary (€11.2) and Lithuania (€12.5) and highest in Germany (€30.9), Denmark (€29.8) and Belgium (€28.4).

Cyprus, with a 16.4 per cent increase, also ranks second as regards the largest increase in household electricity prices, in national currencies, between the first half of 2018 and the first half of 2019, following the Netherlands with 20.3 per cent. Lithuania also made it in the top four with a 14.4 per cent increase and Czechia with 12 per cent.

The largest decreases in household electricity prices, were observed in Denmark with a 4.3 per cent drop followed by Portugal, Poland and Greece.

Taxes and levies accounted for more than a third (37 per cent) of the electricity bills charged to households in the EU in the first half of 2019. For gas bills, the corresponding share was 27 per cent.

According to Eurostat, average gas prices in the EU were stable and stood at €6 per 100 kWh in the first half of 2019.

Between the first half of 2018 and the first half of 2019, the largest decreases in household gas prices, in national currencies, were observed in Denmark (-1.7 per cent), Hungary (-1.6 per cent ) and Austria (-1.3 per cent). By contrast, the largest increase was registered in Bulgaria (+18.3 per cent), ahead of Latvia (+15.8 per cent), and Estonia (+14.2 per cent).

Expressed in euro, average household gas prices in the first half of 2019 were lowest in Hungary and Romania (both €3.5 per 100 kWh) and Croatia (€3.8) and highest in Sweden (€11.8), the Netherlands (€9.2) and Denmark (€8.6).

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