Household electricity prices in Cyprus fell to €0.26 per kilowatt-hour in the first half of 2026, easing from their energy-crisis peak but remaining significantly above pre-crisis levels, according to the latest Eurostat data.
The figures show that electricity prices have declined steadily since reaching €0.37 per kWh in the first half of 2023. However, households are still paying considerably more for electricity than before the energy crisis.
When adjusted for differences in purchasing power, Cyprus recorded 29.9 purchasing power standard (PPS) units per 100 kWh in the first half of 2026, indicating the relative cost burden on households.
Across the European Union, average household electricity prices fell by 2.2% in the first half of 2026, dropping to €0.28 per kWh from €0.29 in the second half of 2025.
Despite the decrease, prices remained well above pre-2022 energy-crisis levels.
Taxes and levies also accounted for a slightly smaller share of household electricity bills, falling by 0.5 percentage points from 28.9% in the second half of 2025 to 28.4% in the first half of 2026.
Electricity prices peaked in 2023
Eurostat data show that household electricity prices in Cyprus remained relatively stable between 2015 and 2020, before surging during the energy crisis and gradually easing afterwards.
During that period, prices fluctuated between €0.15 per kWh 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 energy crisis then brought a sharp increase in household electricity costs. Prices reached €0.37 per kWh in the first half of 2023, more than twice the level recorded in late 2020.
They subsequently began to decline, falling to €0.32 per kWh in the first half of 2024 before continuing their downward trend.
By the first half of 2026, prices had dropped to €0.26 per kWh. Although this represents a considerable reduction from the 2023 peak, electricity remains more expensive than it was before 2021.
The figures highlight how the effects of the energy crisis continue to be felt in household bills, despite the retreat from record levels.
Ireland has the highest electricity prices in the EU
Ireland recorded the highest household electricity prices in the EU during the first half of 2026, at €0.39 per kWh.
Germany and Belgium followed, with prices reaching €0.36 per kWh in both countries.
Six EU member states recorded household electricity prices above €0.30 per kWh, while five reported prices below €0.20.
The lowest nominal prices were recorded in Hungary, at €0.11 per kWh, followed by Malta and Bulgaria, where households paid €0.13 per kWh.
However, comparing prices in euros alone does not fully reflect the financial burden on households, as purchasing power and general price levels vary between countries.
When adjusted using the purchasing power standard, Romania recorded the highest electricity costs, at 46.9 PPS units per 100 kWh. Poland followed at 41.1, while the Czech Republic recorded 34.3.
Cyprus stood at 29.9 PPS units per 100 kWh. The lowest purchasing-power-adjusted prices were recorded in Malta, at 13.8, Hungary, at 14.7, and Luxembourg, at 15.5.
The PPS measure accounts for differences in purchasing power between countries, providing a clearer indication of the relative cost of electricity for consumers.
Electricity prices rise sharply in some EU countries
Although average electricity prices across the EU declined in the first half of 2026 compared with the previous six months, national trends varied considerably when compared with the same period in 2025.
Using prices in national currencies, Eurostat found that Romania recorded the sharpest increase, with household electricity prices rising by 51.6%.
Ireland registered the second-largest increase, at 19.8%, followed by Finland, where prices rose by 18.4%.
In contrast, Denmark recorded the largest decrease, with household electricity prices falling by 31.7%. Luxembourg followed with a decline of 24.1%.
The figures highlight the uneven development of electricity costs across Europe, despite the overall reduction in average EU prices during the first six months of 2026.
For Cyprus, the data show that household electricity costs have eased considerably from their 2023 peak. However, the latest purchasing-power-adjusted figures underline that electricity remains a significant expense compared with the period before the energy crisis.
Also read: Central Bank warns prolonged energy shock could fuel inflation
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