CYPRUS: Electricity bills to drop 1.1% after two years of hikes

Consumers are to be given a break from bloated electricity bills as the Electricity Authority of Cyprus has announced that it is to bring down charges for January and the following months.

Talking to Active Radio, EAC’s press officer Christina Papadopoulou said that the 1.1% drop for January comes as a result in the fall in oil prices globally.

“Since the price of fuel started dropping on 9 October, the EAC has purchased cheaper fuel which are now in the authority’s facilities,” said Papadopoulou.

She explained that despite the delay, a price reduction will be reflected in consumer bills over the coming months.

The drop comes after electricity bills spiked by 33% over a two year period from October 2016, with the latest increase being announced for bills issued for the months August to October 2018.

The increase was 6.72% for a period high in electricity consumption.