Electricity bills deflate slightly

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Cypriot consumers will see their electricity bills deflate slightly as a 2.2% reduction is expected on their December fees, as fuel prices drop internationally.

In statements, the Electricity Authority’s (EAC) spokesperson Christina Papadopoulou said that a household with an average consumption of 800 kWh should expect to pay around €233 for the two months of November- December.

The drop in electricity bills, as explained by Papadopoulou, is due to the reduction in fuel costs.

She also said that the revision of prices, based on the fuel cost, is done at the end of each month, and the new prices are applied to subsequent bills.

“Therefore, the new prices will be seen in the December bimonthly bills,” she explained.

In the previous months, there was also a decrease in EAC bills; for November, they were 6.5% lower compared to September.

However, compared to the same period last year, bills are 17% higher and 60% higher than those received in the same period of 2019.

Meanwhile, consumers in September saw their bills fall by an average of 14% when a government subsidy scheme of up to €68.72 kicked in.

This subsidy was introduced to cover the increase resulting from the government’s decision to reinstate VAT to 19% after lowering it to 9% for a ten-month grace period.

The measure will last until the end of December and benefits 449,000 households and 111,500 businesses.