Cypriots Pay the Second Highest Electricity Prices in Europe

According to Eurostat, the European statistical agency, Cypriots are paying some of the highest electricity rates in Europe—second only to consumers in the Czech Republic.

Czech residents pay 41 purchasing power standard (PPS) per 100 kilowatt-hours, while Cypriots pay 35.7 PPS.

PPS is a hypothetical currency unit used to compare prices across countries, adjusted for purchasing power. It is calculated by dividing a country's total economic output—the value of all produced goods and services—by its purchasing power parity, which reflects the relative cost of living.

Other countries with relatively high electricity prices include Poland (34.67 PPS), Germany (35.23 PPS), and Romania (32.69 PPS). In Greece, the rate is 28.53 PPS, while Turkey has a much lower rate of 20.18 PPS.

The lowest electricity prices are found in Malta (14.33 PPS), Luxembourg (15.4 PPS), and Hungary (15.45 PPS).

When including taxes and additional charges, Cyprus ranks sixth in Europe for the highest electricity prices for households. Cypriots are currently paying 32.51 cents per kilowatt-hour, which is lower than the prices in Germany, Denmark, Ireland, Belgium, and the Czech Republic, where consumers pay up to 39.43 cents per kilowatt-hour.

The lowest household electricity prices in the EU are found in Bulgaria, at just 12.17 cents per kilowatt-hour. Turkey offers the lowest rate across the continent, at only 6.2 cents per kilowatt-hour. Greek consumers pay 23.11 cents per kilowatt-hour.