Cypriots view energy transition as urgent amid rising cost of living

The eighth Climate Survey by the European Investment Bank (EIB), published on Thursday, reveals that 88% of Cypriots consider the energy transition urgent, the highest rate among the 27 EU member states. Conducted by Ipsos BVA among 23,000 EU residents, including 500 in Cyprus, the survey highlights strong public expectations regarding economic relief and energy security.

Specifically, 55% of Cypriots believe the transition will lower their energy bills, significantly higher than the 20% EU average. Furthermore, 89% of respondents hope for more stable prices and reduced dependence on imported oil and gas, while 82% expect it to mitigate climate change. The study also documented the severe impact of recent inflation: 72% of Cypriots reported a significant decline in purchasing power over the last year due to energy price hikes.

These economic pressures have forced lifestyle adjustments; 47% of Cypriot households have cut spending on food or healthcare, and a similar percentage reduced essential car travel. These rates are notably higher than the EU averages of 38% for basic expenditure cuts and 31% for travel reductions.