Key Market Indicators
Cyprus is poised for a modest increase in electricity generation, with projections indicating an uptick to approximately 5.6 terawatt-hours by 2028. This marks a growth from the 5.4 terawatt-hours recorded in 2023, reflecting an annual compound growth rate of 0.8%. Historically, Cypriot electricity supply has seen a steady rise, increasing by an average of 1.2% per year since 1990. As of 2023, Cyprus ranked 74th globally in electricity generation, a position surpassed by Macedonia, which also produced about 5.4 terawatt-hours. On the global stage, the leading countries in electricity generation are the United States, India, and Russia, holding the second, third, and fourth positions respectively.