Electricity consumption to be counted in October for bi-monthly consumers will be the most expensive recorded in Cyprus since December 2018 – at least in terms of fuel.
This is what Philenews reported on Friday, adding that this is because the average monthly fuel cost of the Electricity Authority of Cyprus for October will be the highest recorded since August 2013.
These are conclusions derived from updated data on the website of the EAC.
Cyprus may not consume natural gas, the price of which has increased by at least 4-5 times since January 2021 and today in European countries, but it does not avoid the big rise in electricity prices.
At least compared to last year’s lower charges in the international market of crude oil, derivatives of which are fuel oil and diesel which is burned exclusively by the EAC.
In addition, the price of electricity is burdened by the jump in the price of greenhouse gas emission allowances which have almost quadrupled since 2020.