COVID19: Cyprus takes 10% off electricity bills

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Cyprus’ Electricity Authority said it will apply a 10% discount on energy bills for two months, to help households and businesses hit by COVID-19.

The discount was approved by the Cyprus Energy Regulatory Authority after a proposal tabled by the government.

This does not include VAT and the special levies for renewable energy.

The cut will apply for two months and the decision will be reassessed before the two months are over depending on developments.

According to an EAC announcement, consumers who pay on a monthly basis, the discount will apply on the bills reflecting consumption the end of March 2020.

For those who pay every two months, the discount will be reflected for consumption counts as of 1 April.

The discount on electricity bills comes after the government announced a series of measures to help business and workers cope with the fallout of the COVID-19 epidemic.

Any losses suffered by EAC as a result of the reduction on tariffs will be covered by its cash reserves.