News Local No quick fix for costly electricity

No quick fix for costly electricity

Electricity bills will remain high pending the liberalisation of the market, the introduction of renewable sources of energy and the use of natural gas to power generators, the House Watchdog Committee heard yesterday.

Currently, electricity costs are primarily dictated by the price of oil.

The committee hearing was called to examine the recent spike in electricity prices which has pushed an increasing number of households to contact the Electricity Authority to arrange to pay their bills in instalments. According to EAC figures, the number of households making such arrangements has risen from 6500 to 10,000 in the past few months.

A spokesman from the Cyprus Energy Regulatory Authority (CERA) told MPs that electricity prices would only fall with competition, renewable energy and natural gas.

The spokesman from the Energy Ministry added that even with the use of natural gas – anticipated to start in 2020 – the impact on electricity prices would not be immediate. MPs also heard that €200m paid out in emission allowances over the past decade has also been included in bills. Emission fees will edge down with the introduction of new anti-pollution technology to be introduced by the EAC as from 2020.

The Energy Ministry is also planning to offer incentives for the use of photo-voltaics at houses.

Read more

https://in-cyprus.com/news/local/electricity-prices-will-keep-rising-says-wind-energy-association/

Top Stories

369 new cases through PCR tests, two deaths announced on Saturday

The Health Ministry announced the death of two persons due to COVID-19. Specifically, a woman 82 with underlying conditions, who had been treated at...

38-year-old arrested for sending videos of minor’s sexual abuse

The Police’s Office for Combating Cybercrime arrested a 38-year-old on the basis of an arrest warrant within the framework of investigating a case of...

Final phase of MEDUSA Multinational Exercise concluded

The final phase of the multinational aeronautical exercise "MEDUSA-10/20", which took place in the sea northwest of the city of Alexandria in Egypt, was...

PM Johnson and EU chief seek to break Brexit impasse

British Prime Minister Boris Johnson will speak to European Commission President Ursula von der Leyen on Saturday to try to break an impasse in...

Moscow rolls out Sputnik V COVID-19 vaccine to most exposed groups

Moscow began distributing the Sputnik V COVID-19 shot via 70 clinics on Saturday to the most exposed groups, marking Russia's first large-scale vaccination against...

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...