Household electricity prices in Cyprus fell to €0.26 per kilowatt-hour in the first half of 2026, according to Eurostat data, easing from their energy-crisis peak but remaining significantly above pre-crisis levels as electricity costs continue to weigh on consumers.

The latest figures show that prices, including all taxes and levies, have declined steadily since reaching €0.37 per kilowatt-hour in the first half of 2023, although households are still paying considerably more than they did before the energy crisis.

When adjusted for differences in purchasing power, Cyprus recorded 29.9 purchasing power standard (PPS) units per 100 kilowatt-hours in the first half of 2026, providing an indication of the relative burden of electricity costs on households.

Across the European Union, average household electricity prices fell by 2.2 per cent in the first half of 2026, declining to €0.28 per kilowatt-hour from €0.29 in the second half of 2025.

Despite the decrease, prices remained well above levels recorded before the 2022 energy crisis, indicating that households continued to face higher electricity costs than before the energy market turmoil.

Taxes and levies also declined slightly as a proportion of household electricity bills, falling by 0.5 percentage points, from 28.9 per cent in the second half of 2025 to 28.4 per cent in the first half of 2026.

Cyprus electricity prices peaked in 2023

Eurostat data show that household electricity prices in Cyprus followed a relatively stable pattern between 2015 and 2020, before surging during the energy crisis and subsequently easing.

During the initial period, prices fluctuated between €0.15 per kilowatt-hour in the first half of 2016 and €0.22 in the second half of 2019, before falling to €0.16 in the second half of 2020.

The subsequent energy crisis brought a sharp increase in household electricity costs, with prices reaching €0.37 per kilowatt-hour in the first half of 2023, more than double the level recorded in late 2020.

Prices then began to ease, declining to €0.32 per kilowatt-hour in the first half of 2024 before continuing their gradual downward trajectory.

By the first half of 2026, the price had fallen to €0.26 per kilowatt-hour, representing a substantial reduction from the 2023 peak but remaining well above the levels recorded before 2021.

The trend highlights the persistence of the energy crisis’ impact on household electricity bills, even as prices have retreated from their highest levels.

Ireland records highest electricity prices

Ireland recorded the highest household electricity prices in the EU during the first half of 2026, at €0.39 per kilowatt-hour, followed by Germany and Belgium, where prices stood at €0.36 per kilowatt-hour in both countries.

Six member states recorded household electricity prices exceeding €0.30 per kilowatt-hour, while five countries reported prices below €0.20.

The lowest nominal prices were recorded in Hungary, at €0.11 per kilowatt-hour, followed by Malta and Bulgaria, where households paid €0.13 per kilowatt-hour.

However, comparisons based solely on euros do not fully reflect the financial burden electricity bills place on households, as purchasing power and general price levels differ between countries.

When electricity prices were adjusted using the purchasing power standard (PPS), Romania recorded the highest costs, at 46.9 units per 100 kilowatt-hours, followed by Poland at 41.1 and the Czech Republic at 34.3.

Cyprus recorded 29.9 PPS units per 100 kilowatt-hours, while the lowest purchasing-power-adjusted prices were observed in Malta, at 13.8, Hungary at 14.7 and Luxembourg at 15.5.

The PPS measure allows comparisons between countries by accounting for differences in purchasing power, offering a clearer indication of the relative cost of electricity for consumers.

Electricity prices move sharply in several countries

Although the EU average declined in the first half of 2026 compared with the second half of 2025, national trends varied considerably when prices were compared with the same period a year earlier.

Using comparisons in national currencies, Eurostat found that household electricity prices increased sharply in Romania, rising by 51.6 per cent compared with the first half of 2025.

Ireland recorded the second-largest increase, at 19.8 per cent, followed by Finland, where prices rose by 18.4 per cent.

In contrast, Denmark registered the largest decrease, with household electricity prices falling by 31.7 per cent, while Luxembourg recorded a decline of 24.1 per cent.

The figures illustrate the uneven evolution of electricity costs across Europe, despite the overall reduction in average EU prices during the first six months of 2026.

For Cyprus, the combination of the historical price trend and the latest purchasing-power-adjusted figures shows that, although household electricity costs have fallen considerably from their 2023 peak, prices remain elevated compared with the period before the energy crisis.

Ex-energy secretary Ed Miliband’s agenda appears undermined as money is diverted from renewables to defence

Britain is unlikely to hit its targets on green heating after the cuts announced by John Healey this week, experts have warned, as critics of Ed Miliband claim the former energy secretary’s green agenda is being dismantled.

The chancellor unveiled more than £3bn worth of cuts to the energy department’s budget this week, much of which will pay for higher defence spending.

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© Photograph: Justin Tallis/AFP/Getty Images

© Photograph: Justin Tallis/AFP/Getty Images

© Photograph: Justin Tallis/AFP/Getty Images

With the midterm elections approaching, data centers have become an increasingly popular political target. Politicians are raising alarms about their impact on communities, with some calling for construction moratoriums or outright bans.

There's been plenty of fearmongering. But the more Americans learn about data centers, and the more communities experience their benefits firsthand, the stronger the case for continued development becomes.

Data centers have existed for decades, but the rapid growth of artificial intelligence has dramatically increased the demand for computing power. Americans understandably have questions about what this development means for electricity prices, water supplies, and their quality of life. Newer facilities are increasingly being designed with technologies that can address these concerns, including closed-loop cooling systems and quieter operations.

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Yet much of the national debate overlooks what data centers are already delivering to communities across America.

Take Ellendale, North Dakota, a town of 1,100 people. Before Applied Digital's new $11 billion data center development, the town collected roughly $400,000 annually in sales taxes. In the first seven months of 2026 alone, that figure jumped to $3.5 million.

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That revenue is helping the city repave its roads and renovate its senior center. A historic opera house is being restored. For a small town, this kind of investment can transform the community for generations.

And Ellendale is far from alone.

Schools across America are seeing enormous benefits from the data center boom.

In Richland Parish, Louisiana, Meta's massive investment has helped fund an increase in annual teacher bonuses ranging from $10,000 to $50,000.

Think about what that means for a working family. Teachers who have dedicated their careers to educating children are receiving a life-changing financial benefit, while the school district becomes an attractive destination for talented educators.

It's hard to imagine a politician campaigning against higher teacher pay or better schools. Yet those are precisely the kinds of benefits communities stand to lose when development gets blocked.

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The benefits extend to homeowners struggling with the rising cost of living.

In Loudoun County, Virginia, data centers generate 45% of county revenue. That enormous tax base has allowed local officials to cut homeowner property tax rates every year for a decade.

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In neighboring Henrico County, local leaders used data center revenue to fund a $60 million Affordable Housing Trust Fund, helping young families and first-time buyers purchase homes.

At a time when housing affordability is dominating political conversations, building data centers is helping some communities make the American Dream a little easier to achieve.

Electricity prices are another major concern, and understandably so. Families are already struggling with higher utility bills, and the arrival of a major new industrial customer can raise legitimate questions about who pays for new infrastructure.

But the enormous, predictable electricity demand from data centers also creates opportunities to finance new generation and grid investments, spreading infrastructure costs across a larger customer base.

In Georgia, agreements involving new large electricity customers, including OpenAI, are projected to lower residential power bills by $180 annually by 2029.

With the right arrangements in place, the arrival of data centers can mean lower costs for the families already living in these communities.

And the benefits extend well beyond tax revenue and household expenses.

Trade unions have been among the most vocal supporters of data centers because of the good-paying jobs they create. Building these facilities requires years of work for skilled tradesmen, with new projects creating opportunities for the next generation of American workers.

In Baltimore, Maryland, IBEW Local 24 expanded its membership by 50% alongside data center construction. In Luzerne County, Pennsylvania, IBEW Local 163 doubled its ranks following construction of an Amazon data center.

Politicians have spent decades promising to bring back good-paying blue-collar jobs. Here is an industry creating enormous demand for exactly those workers.

Of course, developers have a responsibility to work with residents and local governments to address legitimate concerns. Communities deserve clear answers about electricity costs and water use. They should also understand how the investments taking place in their backyards will benefit local families.

But when data centers are developed responsibly, the economic benefits can be enormous. Communities are rebuilding roads and improving schools. Homeowners are seeing lower tax burdens, and skilled workers are finding new opportunities.

For decades, politicians have campaigned on championing the Forgotten Man and bringing economic opportunity back to communities that have struggled to attract investment.

Now, data centers are delivering billions of dollars in private investment to many of those very places.

We're watching a new industrial boom take shape across America, creating jobs and revitalizing communities that Washington has spent decades promising to help. Before politicians rush to stop it, they ought to take a serious look at what those communities are gaining.

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And they should consider what their constituents stand to lose.

Iran said four tankers were damaged by mines in the Strait of Hormuz, disputing a U.S. assertion that key shipping lanes had been cleared of such threats. The reports come amid renewed fears of wider confrontation in the Gulf following the U.S. midterm elections.

The state-run oil company swung from a year-earlier loss to a third-quarter profit, driven by rising Vaca Muerta shale output and improved refining margins, while cutting net debt to a decade low.

In Kyiv, multiple Russian ballistic missiles struck just after 10 p.m. local time. According to Kyiv Mayor Vitali Klitschko, warehouse buildings in the city's Darnitsky district were struck, starting fires.