Energy Reports

Cyprus energy report

Cyprus energy market analysis is derived from the most recent key economic indicators, supply and demand factors, oil & gas pricing trends and major energy issues and developments surrounding the energy industry. The analysis includes a comprehensive energy market report and updated Cyprus energy market data.

Cyprus energy report
Update: December, 2019
Format: 2 files (PDF report, Excel file)
Pages: 28 (Report only)
Delivery: Immediate by e-mail


Cyprus energy market report offers an incisive and reliable overview of the energy sector in Cyprus. With a focus on oil, gas, coal and power markets, the report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2018 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities.

  • Institutions & Energy Policy

    The Republic of Cyprus represents 70% of the island of Cyprus (the northern part is the Turkish Republic of Northern Cyprus (TRNC)).

    The Ministry of Energy, Commerce, Industry and Tourism (MECIT) is responsible for the drawing up and implementation of the national energy policy through its Energy Service division.

    The main issues covered by the energy policy are: diversification ...

  • Energy Companies


    EAC, Electricity Authority of Cyprus is the national vertically integrated electricity company. It was expected to be fully unbundled by the end of 2016, but it was postponed to mid-2020. CERA is currently evaluating the EAC unbundling process.

  • Energy Supply


    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 made in 2011 could change the situation dramatically.

  • Energy Prices


    In 2018, the average price of electricity for industry was €14.5c/kWh, which is 36% above the EU average, while that of the residential sector was €20.38c/kWh, 3% below the EU average.

    Electricity prices used to be 30-40% above the EU average until 2013. They have dropped since then due to the combined effects of a new fuel adjustment methodology by CERA, the end of temporary taxes, ...

  • Energy Consumption

    In 2018, Cyprus had a per capita consumption of 2.5 toe, that is still below its peak level of 3.2 toe in 2008 and 18% below the EU average. Electricity consumption per capita was around 5 310 kWh in 2018 (11% below its 2008 level and 6% below the EU average).

    Total energy consumption decreased sharply between 2008 and 2013 (-5.7%/year), but rose again until 2017 (+3.2%/year). In ...

  • Issues & Prospects

    Cyprus has recovered since 2015 from the deep recession which struck the country between 2008 and 2014.

    Following the important discoveries of offshore gas, Cyprus is positioning itself as a gas importer in the medium term, before becoming a gas exporter as of 2024 Moreover, it is diversifying its energy sources by introducing gas in its power production sector, which is presently ...

Download the Table of Contents

In the Cyprus market report you will find the graphs mentioned below:

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2018, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2018, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2018, %)
  • GRAPH 9: Final consumption market share by sector (2018, %)

In the Cyprus market report you will find follow tables:

  • Economic Indicators: Annual historical data including population, GNP growth, imports & exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil & gas reserves, electric & refining capacity, energy production, power production and external trade. All detailed by energy source.
  • Demand Indicators: Historical data includes consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source & sector, and, electricity consumption by sector.
  • Energy Balances: Unique tabular display of the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

The Cyprus market data since 1990 included in the Excel file is given below.
Historical evolution allows to easily work with the data.

2018 Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Cyprus Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Cyprus energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

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