Cyprus ranks as the 7th most expensive electricity market

In the first half of 2019, average household electricity prices in the European Union (EU) increased slightly compared with the first half of 2018 (€20 per 100 kWh), standing at €21 per 100 kWh, according to data released today by Eurostat, the statistical service of the EU.

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

Furthermore, Cyprus ranks as the 7th most expensive electricity market, with 0.2203 euro per kWh (0.172 excluding taxes and levies). Greece ranks as the 12th less expensive electricity market with 0.1650 euro per kWh (0.1139 excluding taxes and levies).

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 2019. For gas bills, the corresponding share was 27 %.

Between the first half of 2018 and the first half of 2019, the largest decreases in household electricity prices, in national currencies, were observed in Denmark (-4.3%) and Portugal (-4.1%), followed by Poland (-3.1%) and Greece (-1.3%).

By contrast, the largest increase was registered in the Netherlands (+20.3 %), ahead of Cyprus (+16.4%), Lithuania (+14.4%) and Czechia (+12.0%).

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).

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%), Hungary (-1.6 %) and Austria (-1.3 %). By contrast, the largest increase was registered in Bulgaria (+18.3%), ahead of Latvia (+15.8%), and Estonia (+14.2 %).

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).