Cyprus electricity market most monopolistic in Europe

The highest electricity market share in the EU was recorded in Cyprus, where the state-run Electricity Authority holds 88 per cent, according to Eurostat data released on Tuesday.

After Cyprus, the highest shares for the largest electricity producer in each country was recorded in France (79 per cent), Croatia (76 per cent) and Estonia (64 per cent).

The data covered the period until the end of 2021.

The market share of the largest producer in the electricity market was less than 20 per cent in four EU members: Poland, Lithuania, and Italy (all 17 per cent), and Sweden (19 per cent).

Share increase indicates a rise in market concentration, for example after a merger of large market participants. On the flipside, a share decrease shows a reduction in market concentration.

In Cyprus, the EAC’s market share declined slightly compared to the previous year, from 89.92 per cent in 2020 to 88.03 per cent in 2021.

Of the other EU countries, 15 reported a change from 2020 to 2021 that is below 10 per cent.

In Cyprus, the share of the EAC in the market declined by 5 percentage points compared to 2013, when the company held 93 per cent of the market.