NewsLocalElectricity bills in Cyprus to be slashed by 10% for next four...

Electricity bills in Cyprus to be slashed by 10% for next four months

Electricity bills in Cyprus will be slashed by 10% for the next four months, Energy Minister Natasa Pilidou announced on Friday.

She also announced renewable energy schemes aimed at long term savings for businesses and households and said the government understood the pressure on them caused by the pandemic.

Last week, the EAC said the historically low energy prices in 2020 were highly unusual – citing costlier fuel internationally as pushing up costs this year.

Nonetheless, Cypriot consumers face among the highest electricity bills in the EU.

And the Cyprus Consumers Association had accused the EAC of leaving Cyprus in the Middle Ages as it produces its energy from oil which is subject to hefty fines from the EU.

The taxpayers in turn foot the bill for the fines placed on Cyprus from the EU.

 

 

 

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