News Local Cypriots pay for the 11th most expensive electricity in the EU

Cypriots pay for the 11th most expensive electricity in the EU

Household electricity prices in Cyprus are the eleventh most expensive among EU member states, a Eurostat study found.

In the first half of 2018, Cypriots paid 0.1893 euro per a kWh of electricity. Of those, 0.448 are taxes and levies.

The highest electricity prices are in Denmark, where citizens pay 0.3216 euro per kWh, with more than half (0.1636) being taxes and levies.

Bulgarians pay the cheapest electricity, with 0.0979 euro per kWh, the whole amount being taxes and levies.

The EU-28 average price — a weighted average using the most recent (2016) data for the quantity of electricity consumption by households — was EUR 0.2049 per kWh.

Weight of taxes and levies differs greatly between Member States

Taxes and levies accounted for more than a third (37%) of the electricity bills charged to households in the EU in the first half of 2018.

In Cyprus, 23.7% of electricity prices are taxes and levies.

The proportion of taxes and levies in the overall electricity retail price for household consumers is shown in Figure 3. The relative amount of tax contribution in the first half of 2018 in the EU was smallest in Malta (4.7 %) where a low VAT rate is applied to the basic price and no other taxes are charged to household consumers. The highest taxes were charged in Denmark where 67.7% of the final price was made up of taxes and levies.

Largest fall in electricity prices in Poland, highest increase in Romania

Household electricity prices in Cyprus rose by 1.6% between the first half of 2017 and the first half of 2018.

During the same period, the largest decreases were observed in Poland (-4.3%) and Greece (-3.6 %), followed by Latvia (-3.5 %), Malta and Germany (both -3.2 %). In contrast, the largest increase was registered in Romania (+14.1 %), ahead of Estonia (+11.7%), the Netherlands and Croatia (both +9.2 %).

Expressed in euro, average household electricity prices in the first half of 2018 were lowest in Bulgaria (€9.8 per 100 kWh), Lithuania (€11.0) and Hungary (€11.2) and highest in Denmark (€31.3), Germany (€29.5) and Belgium (€27.3).

Non-household consumers

For non-household consumers (defined as medium-size consumers with an annual consumption within the range of 500 MWh < consumption < 2 000 MWh), electricity prices in Cyprus during the first half of 2018 were the third highest among the EU Member States, with 0.14 euro per kWh. The highest prices were in Germany and Italy with 0.1499 euro per kWh and 0.1423 euro per kWh, respectively. The EU-28 average price — a weighted average using the most recent (2016) national data for the quantity of consumption by non-household consumers — was EUR 0.1142 per kWh.

For more information visit the Statistics Explained articles Electricity price statistics and Natural gas price statistics.

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