According to latest Eurostat data, the electricity prices in Cyprus recorded the third highest annual increase in the EU (after Malta and Latvia).

Prices increased by 29.69% for the households and by 29.91% for the industries. Eurostat data compare the prices of January – June 2008 with the corresponding period of 2007. The average increase in EU27 stood at 9.63% for the household consumers and 15.49% for the industrial consumers.

Based o the consumers’ purchasing power in each country, prices in Cyprus are the second highest in EU27 after Hungary.

In absolute numbers, the Cypriot households last semester paid €20.40 and the industries €18.07 per 100 kWh from €15.73 and €13.91 respectively in the corresponding period of 2007. The prices for businesses are the highest in Europe and for the households the fifth highest.

14% of the electricity prices in Cyprus are taxes.

Electricity prices for the household consumers fell in Poland (-6.16%), Romania (-3.33%), Luxemburg (-2.2%), Portugal (-2.18%) and Lithuania (-0.57%). On the other hand, the prices for industrial consumers recorded an increase in all countries.