Cyprus Businesses Pay Among EU's Highest Electricity Rates Despite EU-Wide Decline

In the first half of 2026, Cyprus recorded an average electricity price of €0.23 per kilowatt‑hour for non‑household consumers, placing it alongside Italy as the second‑highest in the European Union. The bloc average fell to €0.18, a 2 % drop from the second half of 2025 and 5.4 % lower than the first half of 2025, yet Cyprus remains five cents above the EU average. While 19 member states saw price reductions—Luxembourg’s 23.8 % fall, the Czech Republic’s 11.9 % and Greece’s 11.8 %—eight countries experienced increases, the largest being Sweden’s 18.8 % rise, Finland’s 18.7 % and Bulgaria’s 14.2 %. The persistent high cost for Cypriot businesses could pressure operating margins and prompt calls for policy action to curb energy expenses.