News Local Energy regulator approves 2.9% cut in electricity prices

Energy regulator approves 2.9% cut in electricity prices

The Cyprus Energy Regulatory Authority (CERA) has approved a proposal by the Electricity Authority Cyprus (EAC) for a 2.9% reduction in electricity prices because of lower production, transport and distribution costs, Phileleftheros reported on Friday.

But it noted that part of the benefit may end up being cancelled by costlier emission fees.

In its letter to the EAC, CERA also authorised the extension by another year to reduced pricing approved in 2017 for commercial and industrial bills, road lighting, pumping of water and thermal-storage room heaters.

The price drop follows last year’s pattern when CERA decided in May 2019 to reduce prices for Public Service Obligations (PSO), the special tariffs for vulnerable customers that saw a shift from €0.00083/kWh to €0.00071/kWh.

Renewable energy charges, which consumers pay through their bills, are reduced from one cent per kWh to half a cent.

However, Phileleftheros anticipates that these savings will be reversed by pollution emitter rights that will need to be purchased by the EU in 2020 as electricity demand increases but are expected to edge down again after 2020 when EAC will have finished installing anti-polluting technologies and liquified natural gas will have arrived at Vasilikos Power Station to be used in electricity production.

Read more:

https://in-cyprus.com/paphos-hoteliers-want-cheaper-electricity/

Top Stories

Covid-19 patients rise at referral hospital, now 59

  Covid-19 patients at the Famagusta General, the referral hospital for coronavirus have risen to 59. Four are being treated in the increased care unit for...

5 third country students employed illegally at two Nicosia restaurants

  Authorities continued a campaign to stamp out the illegal employment of third country individuals who are being exploited by Cypriot employers for peanuts. Officers from...

Mass rapid tests in Larnaca over the weekend

  Rapid tests will be taking place throughout the weekend in the city of Larnaca. The municipality informed the public that the Health Ministry had organised...

What Covid? 17 people gambling on home table booked

  Police in Paphos are investigating an illegal gambling case, with 17 people setting up in a private residence early evening yesterday. The Crime Prevention Unit...

Brexit goes down to the wire: EU and UK say big differences remain

  The European Union and Britain said there were still substantial differences over a Brexit trade deal as the EU chief negotiator travelled to London...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...