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Cypriots spend nearly 10% of yearly income on electricity bills, third highest in Europe

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Households in Cyprus are ranked third when it comes to which European country pays most for electricity bills, according to a study by energy switching site SaveOnEnergy published on Thursday.

In Cyprus, households spend an estimated 9.6 per cent of their annual earnings on electricity bills.

According to the new study, households in Norway pay the most for their electricity bills, spending €2,467 annually, €205.58 a month. Dwellings in Norway use the most electricity in Europe at 14,181 kWh per year.

Taking second spot is Sweden. Residents here pay €1,767 for their electricity bills per year, €147.25 per month.

Cyprus ranks third, with bills costing €130.25 each month which totals to an average of €1,563 annually. The reason is not that people consume that much, but the price of electricity.

Those living in the country have to pay the seventh highest in Europe per kWh of electricity used at €0.224, despite households only consuming 6,975 kWh on average each year.

Following in fourth, fifth and sixth are Finland (€1,525), Ireland (€1,470) and Belgium (€1,306).

SaveOnEnergy revealed households in Bulgaria have the lowest energy bills in Europe. Spending just €306 each year, their bills equate to €25.50 each month. They also have the lowest cost of electricity per kWh at just €0.096.

Hungary has the second cheapest electricity bills; households are charged €370 on average each year, €30.83 per month.

Following third is Poland whose residents pay just €390 annually (€32.50 monthly).

When it comes to who spends the most of their salaries on electricity, Cyprus is third again.

Those living in Portugal spend 9.8 per cent of their yearly salary on electricity bills.

In second place is Croatia, where they pay an average of 9.7 per cent of their salary to maintain electricity in their homes.

In Cyprus, households spend an estimated 9.6 per cent of their annual earnings on electricity bills.

Spending just 2.1 per cent of their salary on electricity bills annually are Luxembourg, the lowest in Europe.

Homeowners in the Netherlands are in second position, spending 2.9 per cent of their €24,612 annual pay on power.

Third lowest is Denmark. On average, residents are found to spend just 3.2 per cent of their salary on bills.

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