According to the Cyprus Mail report on April 5: the Electricity Authority of Cyprus (EAC) announced on Monday that electricity prices in Cyprus decreased by 8% in March compared to the previous month. Costs have dropped by approximately 24% over the past 12 months, a decrease of 39% compared to two years ago, and a decrease of 48% compared to three years ago. For example, domestic customers using 800 kWh, which is the total consumption of an average household over two months, will pay €114 in April, whereas last year they would have paid €150. The EAC stated that this is mainly due to the reduction in international fuel prices and optimization of management in the electricity sector. It is worth mentioning that although the EAC operates a small, isolated system that relies entirely on imported fuel, the charge per kilowatt-hour is the average price among the 28 member states of the European Union.
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