InsiderEconomyExpensive electricity prices came to stay

Expensive electricity prices came to stay

Following yesterday’s references of Theodoulos Mesimeris, senior officers at the Agriculture Ministry to the House Energy Committee, it became evident that if consumers believe that the cost of electricity in 2021 is very high, it will become unbearable in 2022 if the predictions of the technocrats in Cyprus and Europe come true.

Reason is that EU emission allowances will haunt future electricity prices in Cyprus and will keep increasing since Cyprus is one of Europe’s laggards when it comes to implementing renewable energy and now consumers will have to pay the penalty.

However, at the time when consumers have difficult paying their huge electricity bills, the state fund receives millions from the rights auctioned for the benefit of the Republic.

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