Significant disparities in household electricity costs persist across the EU, highlighting the lack of a unified electricity market, a concern raised by multiple European governments, including Greece.
In the first half of 2024, household electricity prices rose in ten EU countries and fell in fifteen, compared to the same period in 2023. Cyprus ranks as the seventh most expensive EU country for household electricity prices, including taxes and other charges, with prices also remaining high for non-household consumers.
According to the latest Eurostat data, average household electricity prices in the EU climbed slightly to 28.9 euro cents per kWh, up from 28.3 cents in the previous six months. In Cyprus, household electricity prices reached 32.74 cents per kWh, placing it among the top ten most expensive nations in the EU for electricity costs. For non-household consumers—defined as medium-sized users consuming between 500 MWh and 2,000 MWh annually—the highest prices were recorded in Ireland (25.6 cents per kWh) and Cyprus (24.5 cents per kWh), while the lowest rates were in Finland (9.28 cents per kWh) and Sweden (9.42 cents per kWh). The EU average for non-household electricity was 18.67 cents per kWh.
For EU households with annual electricity consumption between 2,500 and 5,000 kWh, the highest rates were seen in Germany (39.51 cents per kWh), Ireland (37.36 cents), and Denmark (37.07 cents). Cyprus recorded a price of 32.41 cents per kWh, placing it seventh overall.
When adjusted for purchasing power standards (PPS)—a measure that balances consumer costs relative to local purchasing power—Cyprus ranks as the second most expensive EU country, following the Czech Republic. This adjustment means that considering local income levels, Cypriots pay the second-highest price for electricity within the EU, underscoring the financial burden on households.
