Price of household energy storage power supply in Northern Cyprus

How much does electricity cost in Cyprus?

The average price of electricity since 2007 reached its maximum, €0.3739kWh, in December of 2023 and its minimum price, €0.1527 kWh, in June of 2016. The difference between the price of electricity with and without taxes is € 0.1427 tax for each kilowatt hour, thus, 38.17% of what households pay for electricity in Cyprus.

Is Cyprus ready to liberalise the electricity market?

The process of liberalising the electricity market is still underway. EAC, the national electricity company, accounts for 65% of the installed capacity. Cyprus has not granted any exploration licences for new gas or oil blocks. Oil accounts for 79% of the power mix (2023).

Who imports natural gas in Cyprus?

A decree in 2008 designated DEFA as the sole importer and distributor of natural gas in Cyprus. Cyprus is totally dependent on imports for its supply in conventional energy. The only national resources are solar, wind and wood. Recent discoveries of offshore gas could radically change the situation.

How much does electricity cost in Cy?

CY: Electricity Price: HC: 15000 KwH & Above: excl VAT & Other Recoverable Taxes & Levies data is updated semiannually, averaging 0.176 EUR/kWh from Dec 2007 (Median) to Dec 2024, with 35 observations. The data reached an all-time high of 0.289 EUR/kWh in Dec 2022 and a record low of 0.112 EUR/kWh in Jun 2016.