News Local Electricity prices to drop by 1.1% in January

Electricity prices to drop by 1.1% in January

Electricity prices will drop by 1.1% in January and will remain low for the next months, Cyprus Electricity Authority spokeswoman Christina Papadopoulou said.

According to Papadopoulou, the drop is caused by a decrease in global oil prices.

“Since October 9, when global mazut prices started falling, the Cyprus Electricity Authority has proceeded into buying cheaper fuel,” Papadopoulou said.

Although belated, the drop in oil prices will start being reflected in the authority’s electricity bills, she added.

Read more:

https://in-cyprus.com/insider/economy/oil-falls-to-53-on-economic-worries-surging-supply/

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