Cyprus to end electricity subsidies for storage heaters

The Electricity Authority of Cyprus (EAC) has announced the termination of subsidies for storage heaters, effective May 1, 2026. This decision follows a ruling by the Cyprus Energy Regulatory Authority (RAEK).

Since 2017, the EAC has covered the cost difference to prevent a projected 49% increase in pricing for storage heater users, allowing consumers time to transition to alternative heating methods. With the competitive electricity market officially opening on October 1, 2025, the EAC stated it can no longer sustain these subsidies, and consumers will soon pay the standard rate for their kilowatt-hour usage.

Additionally, RAEK has introduced a new option for consumers who utilize both storage heaters and photovoltaic systems. These users can now apply to offset the energy consumed by their heaters against the electricity produced by their solar panels by submitting a formal request.