Electricity prices in Southern Cyprus are high compared to the purchasing power – Cyprus Newspaper
In the second half of 2024, Southern Cyprus ranked second in Europe according to the purchasing power at electrical prices.
According to the data published by Eurostat, the Czech (41,00), Cyprus (35,70) and Germany (35.23) were the countries with the highest prices based on the purchasing power parity (PPS). The lowest prices were Malta (14.33), Luxembourg (15,39) and Hungary (15.45).
According to the news in the Greek press, the absolute values were among the most expensive countries of Germany (39.43 Euro/100 kWh), Denmark (37.63 Euro) and Ireland (36.99 euro), while Hungary (10,32 Euro), Bulgaria (12,17 Euro) and Malta (13,01 euro) presented the lowest prices.
In Europe, electricity prices remained largely constant in the second half of 2024; The average price was 28.72 euro /100 kWh. However, serious price changes were observed in some countries. Prices in Portugal increased by 14.2 percent, 13.6 percent in Finland and 12.9 percent in France, while 17.8 percent in Latvia, 14.3 percent in the Netherlands and 12.3 percent in Belgium.
The share of taxes in electricity bills rose from 24.3 percent to 25.1 percent. In addition, while energy and procurement costs decreased, network costs increased in 18 EU countries to increase the overall network cost by 8.9 percent. Electrical prices for workplaces were generally fixed; With average 18.99 euro/kWh, a small increase was observed compared to the previous period. Eurostat, this situation in the last 1.5 years has been ongoing decline trend has stopped, he said.
