Electricity prices drop down 17.5% in 2013

The Cyprus Electricity Regulatory Authority (CERA) chairman Giorgos Siammas has said that electricity prices were reduced by 17.5% for the average household last year.
Speaking to the press on Friday after presenting CERA’s annual report for 2012 to President Nicos Anastasiades, Siammas said they discussed matters relating to the purchase of electricity, natural gas and renewable sources of energy.
He added that managing the energy crisis during the last two years was one of the matters for which the President was briefed.
According to Siammas, the results of CERA’s crisis management plan were evident during 2013 as the regulatory authority was able to take necessary decisions in due time, which affected electricity prices positively.
There was a significant reduction in the price of electricity, he said, pointing out that this is due to a great extent on the decisions taken by the authority and also the reduction of fuel prices.
“This reduction comes to 17.5% for an average household consumer”, he noted, adding that for others it may be even greater.
Replying to a question as to whether there will be further reductions in 2014, Siammas said that if there is anything to announce it will be announced in due time, while fuel reductions are calculated automatically.