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The cost of electricity in Cyprus is much higher

The cost of electricity in Cyprus is much higher

31 May 2018 | A source: VC
Tags: Cyprus, Electricity, Tariffs, Economy, Statistics

In the second half of the year 2017, electricity prices in Cyprus showed the largest annual growth in the EU. Such data are provided by the European Statistical Office Eurostat.

With all taxes and fees, the price of 100 kWh in Cyprus was 18,30 euro. This is 12,6% more than a year ago. Of the final price of about a quarter (4-4,5 euros for 100 kWh) are taxes and fees, including VAT and a fee for the development of alternative energy sources.

At the same time, the average European price for electricity for the same period decreased by 0,2% in annual terms, amounting to an average of 20,5 euros per 100 kWh. The cheapest electricity is in Bulgaria (less than 10 euro per 100 kWh), and the most expensive is in Denmark and Germany (over 30 euros per 100 kWh). Approximately 40% of the final price falls on taxes and fees.

The highest price increase after Cyprus was registered in Romania (7,2%) and in Malta (7,1%).

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