Dialogos

Electricity Price Increases Expected in Cyprus – EAC Scenarios

Published March 19, 2026, 14:02
Electricity Price Increases Expected in Cyprus – EAC Scenarios

The President of EAC, Giorgos Petrou, announced that an increase in electricity prices is expected from May, due to international developments in oil prices. The increase is estimated at around 5% based on the current oil price, but could reach 7% due to recent increases. For August, if the price of oil reaches $110-115 per barrel, the increase could reach up to 20%. Mr. Petrou stressed that forecasts are uncertain due to continuous fluctuations in prices and geopolitical conditions. EAC continues to import fuels normally to ensure adequate reserves, which are sufficient for about two months. Recent imports have come mainly from European countries, such as Spain and Italy.