ECONOMY: Cyprus household electricity prices among the highest in EU

Cyprus has the 7th most expensive electricity market in the EU charging 0.2203 euro per kWh (0.172 excluding taxes and levies) and registered the third largest hike in prices over a year-long period.

Greece ranked as the 12th least 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, 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%).

Average household electricity prices in the first half of 2019 were lowest in Bulgaria (Euros 9.9 per 100 kWh), Hungary (Euros 11.2) and Lithuania (Euros 12.5) and highest in Germany (Euros 30.9), Denmark (Euros 29.8) and Belgium (Euros 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 %).

Average household gas prices in the first half of 2019 were lowest in Hungary and Romania (both Euros 3.5 per 100 kWh) and Croatia (Euros 3.8) and highest in Sweden (Euros 11.8), the Netherlands (Euros 9.2) and Denmark (Euros 8.6).

In the first half of 2019, average household electricity prices in the EU increased slightly compared with the first half of 2018 (Euros 20 per 100 kWh), standing at Euros 21 per 100 kWh, according to Eurostat.

Average gas prices in the EU were stable and stood at Euros 6 per 100 kWh in the first six months of 2019.

Source: The Financial Mirror