Cyprus electricity prices heavily dependent on international energy costs
Cyprus is one of the few European capitals where household electricity prices declined in August, but new data shows that Cyprus is more dependent on raw energy costs than any other European capital. Approximately 80% of the electricity bill is determined by international fuel and carbon prices, exposing Cypriot consumers to excessive volatility. Economist Tassos Yiasemides warns that inflation increases caused by imported energy costs are gradually spreading throughout the economy.