Electricity prices up by 32% in Cyprus along with increases all over the EU in first half of 2022, Eurostat data show

In the first half of 2022, average household electricity prices in the European Union increased sharply compared with the same period in 2021, from 22.0 euro per 100 kWh to 25.3 euro per 100 kWh, according to data released by Eurostat, the statistical service of the EU.


The same data show a 32% increase in Cyprus during the same period, from 19.8 euro per 100 kWh during the first six months of 2021 to 26.1 euro per 100 kWh during the same period in 2022.


Average gas prices in the EU also increased compared with the same period in 2021 from €6.4 per 100 kWh to €8.6 per 100 kWh in the first half of 2022.


Wholesale prices for electricity and gas have increased substantially across the EU. Energy and supply costs impacted by the current geopolitical situation, the Russian military aggression in Ukraine, mainly drove the increase.


Compared with a year ago, the weight of taxes and levies in the final electricity and gas bills charged to households in the EU in the first half of 2022 decreased significantly as Member States put in place governmental allowances and subsidies to mitigate high-energy costs.


Source: Cyprus News Agency