News Local Cyprus had the highest increase in electricity prices in the EU

Cyprus had the highest increase in electricity prices in the EU

Cyprus registered the highest increase in household electricity prices in the EU between the second half of 2017 and the second half of 2018, Eurostat figures published today show.

According to Eurostat, electricity prices in Cyprus in the second half of 2018 reached €21.83 per 100 kWh, which was the seventh highest price in the EU and represented an increase of +19.6% since the second half of 2017, when electricity in the country costed €18.3 per 100 kWh.

Out of the €21.83 per 100 kWh, 15.2% were VAT, taxes and levies.

The average electricity price in the EU was €21.1 per 100 kWh.

Expressed in euro, average household electricity prices in the second half of 2018 were lowest in Bulgaria (€10.1 per 100 kWh), Lithuania (€11.0) and Hungary (€11.2) and highest in Denmark (€31.2), Germany (€30.0) and Belgium (€29.4).

The source dataset can be found here.

Highest non-household electricity prices in the EU

According to Eurostat, Cyprus had the highest non-household electricity prices in the EU in the second half of 2018.

During the period, non-household electricity prices in Cyprus were €18.1 per 100 kWh, excluding VAT and other recoverable taxes and levies.

The country with the second highest prices was Germany with €15.2 per 100 kWh and the lowest was in Finland with €7.1 per 100 kWh.

The EU average, excluding VAT and other recoverable taxes and levies, was around €11.5 per 100 kWh, an increase of around 2.8% on average between the second half of 2017 and the second half of 2018 and about 13.2% over the last decade.

With VAT, taxes and levies included, Cyprus has the second highest non-household electricity prices (€21.37 per 100 kWh), with Denmark being the country with the highest prices (€25.10 per 100 kWh).

Electricity prices refer to prices for a non-household consumer with an annual consumption within the range of 500MWh < consumption < 2000MWh. In the second half of 2018, non-recoverable taxes and levies accounted for close to one third (30.0%) of the electricity price charged to non-households.

The source dataset can be found here.

Read more:

https://in-cyprus.com/cypriots-pay-for-the-11th-most-expensive-electricity-in-the-eu/

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