Cyprus household power costs ease from 2023 energy-crisis peak
Household electricity prices in Cyprus fell to €0.26 per kilowatt-hour in the first half of 2026, according to Eurostat data, easing from their energy-crisis peak but remaining significantly above pre-crisis levels as electricity costs continue to weigh on consumers.
The latest figures show that prices, including all taxes and levies, have declined steadily since reaching €0.37 per kilowatt-hour in the first half of 2023, although households are still paying considerably more than they did before the energy crisis.
When adjusted for differences in purchasing power, Cyprus recorded 29.9 purchasing power standard (PPS) units per 100 kilowatt-hours in the first half of 2026, providing an indication of the relative burden of electricity costs on households.
Across the European Union, average household electricity prices fell by 2.2 per cent in the first half of 2026, declining to €0.28 per kilowatt-hour from €0.29 in the second half of 2025.
Despite the decrease, prices remained well above levels recorded before the 2022 energy crisis, indicating that households continued to face higher electricity costs than before the energy market turmoil.
Taxes and levies also declined slightly as a proportion of household electricity bills, falling by 0.5 percentage points, from 28.9 per cent in the second half of 2025 to 28.4 per cent in the first half of 2026.
Cyprus electricity prices peaked in 2023
Eurostat data show that household electricity prices in Cyprus followed a relatively stable pattern between 2015 and 2020, before surging during the energy crisis and subsequently easing.
During the initial period, prices fluctuated between €0.15 per kilowatt-hour in the first half of 2016 and €0.22 in the second half of 2019, before falling to €0.16 in the second half of 2020.
The subsequent energy crisis brought a sharp increase in household electricity costs, with prices reaching €0.37 per kilowatt-hour in the first half of 2023, more than double the level recorded in late 2020.
Prices then began to ease, declining to €0.32 per kilowatt-hour in the first half of 2024 before continuing their gradual downward trajectory.
By the first half of 2026, the price had fallen to €0.26 per kilowatt-hour, representing a substantial reduction from the 2023 peak but remaining well above the levels recorded before 2021.
The trend highlights the persistence of the energy crisis’ impact on household electricity bills, even as prices have retreated from their highest levels.
Ireland records highest electricity prices
Ireland recorded the highest household electricity prices in the EU during the first half of 2026, at €0.39 per kilowatt-hour, followed by Germany and Belgium, where prices stood at €0.36 per kilowatt-hour in both countries.
Six member states recorded household electricity prices exceeding €0.30 per kilowatt-hour, while five countries reported prices below €0.20.
The lowest nominal prices were recorded in Hungary, at €0.11 per kilowatt-hour, followed by Malta and Bulgaria, where households paid €0.13 per kilowatt-hour.
However, comparisons based solely on euros do not fully reflect the financial burden electricity bills place on households, as purchasing power and general price levels differ between countries.
When electricity prices were adjusted using the purchasing power standard (PPS), Romania recorded the highest costs, at 46.9 units per 100 kilowatt-hours, followed by Poland at 41.1 and the Czech Republic at 34.3.
Cyprus recorded 29.9 PPS units per 100 kilowatt-hours, while the lowest purchasing-power-adjusted prices were observed in Malta, at 13.8, Hungary at 14.7 and Luxembourg at 15.5.
The PPS measure allows comparisons between countries by accounting for differences in purchasing power, offering a clearer indication of the relative cost of electricity for consumers.
Electricity prices move sharply in several countries
Although the EU average declined in the first half of 2026 compared with the second half of 2025, national trends varied considerably when prices were compared with the same period a year earlier.
Using comparisons in national currencies, Eurostat found that household electricity prices increased sharply in Romania, rising by 51.6 per cent compared with the first half of 2025.
Ireland recorded the second-largest increase, at 19.8 per cent, followed by Finland, where prices rose by 18.4 per cent.
In contrast, Denmark registered the largest decrease, with household electricity prices falling by 31.7 per cent, while Luxembourg recorded a decline of 24.1 per cent.
The figures illustrate the uneven evolution of electricity costs across Europe, despite the overall reduction in average EU prices during the first six months of 2026.
For Cyprus, the combination of the historical price trend and the latest purchasing-power-adjusted figures shows that, although household electricity costs have fallen considerably from their 2023 peak, prices remain elevated compared with the period before the energy crisis.
