Cyprus remains one of the most expensive countries in the European Union in terms of the cost of electricity for businesses. In the first half of 2026, the average price per kilowatt-hour was 0.23 euros. The same figure was recorded in Italy. Only Ireland had a higher price—€0.27 per kWh.
At the same time, electricity for commercial consumers is gradually becoming cheaper in most EU countries. The average cost across the European Union has decreased, but Cyprus still ranks among the most expensive electricity markets.
How much does electricity cost for businesses in Cyprus and other EU countries?
According to Eurostat data, in the first half of 2026, the average price of electricity for commercial consumers in the European Union was 0.18 euros per kWh. The highest prices were recorded in the following countries:
Ireland — 0.27 euros per kWh;
Cyprus — €0.23;
Italy — 0.23 euros.
Electricity was cheapest for companies in Finland—0.09 euros per kWh. In Sweden, the rate was 0.12 euros, and in Denmark, Spain, and Portugal—0.13 euros each.
The difference is particularly noticeable with high consumption volumes. For example, for 1,000 kWh of consumption, the difference between the Cypriot rate and the average European rate is about 50 euros.
Why are Cyprus’s figures compared with those of other countries?
Eurostat did not include all businesses indiscriminately, but rather commercial consumers with annual electricity consumption ranging from 500 to 2,000 MWh.
Therefore, the data reflects the costs of companies with significant energy consumption. These figures cannot be automatically applied to all small businesses, stores, or offices: the actual cost of electricity depends on consumption volume and contract terms.
For Cyprus, high electricity prices are particularly significant for businesses that require large amounts of electricity for their daily operations. These include, in particular, hotels, restaurants, retail establishments, manufacturing facilities, and companies that use cooling systems.
Additional electricity costs increase the cost of doing business and may be reflected in the prices of goods and services for consumers.
In which EU countries is electricity becoming cheaper?
In the first half of 2026, the average price of electricity for businesses in the European Union fell by 2% compared to the second half of 2025. Compared to the first half of 2025, the decrease was 5.4%.
Over the course of the year, electricity prices fell in 19 EU countries. The most significant decreases occurred in:
Luxembourg—by 23.8%;
the Czech Republic—by 11.9%;
Greece—by 11.8%.
At the same time, prices rose in eight countries. The most significant increases were recorded in Sweden—by 18.8%, Finland—by 18.7%, and Bulgaria—by 14.2%.
Thus, the overall trend in the European Union remains positive: the average cost of electricity for businesses is declining. However, Cyprus continues to rank among the countries with the highest prices, which places an additional burden on local companies.