Electricity rates in Cyprus are heading for a 24% hike, as the Electricity Authorityof Cyprus’ pricing plans are expected to receive approval from the Cyprus Energy Regulatory Authority in the coming days, EAC spokesperson Christina Papadopoulou said on Tuesday.
Asked about the electricity rate increase, she said that EAC does not have the official data yet and does not know the exact percentage of increase, however, she estimated that it will be in the area of 24%.
“There was a big increase in the fuel price adjustment last month, a huge increase in oil prices and at the same time there is an increase in EAC’s base rates,” Papadopoulou explained.
Asked if payment plans will be offered for people who cannot afford to pay, Papadopoulou said the EAC always makes provisions for people who are genuinely struggling. She explained that the frontline customer service officers prepare payment plans to facilitate struggling customers and reduce the debit balance. The vulnerable population has special pricing with code 08 as determined by the government, with the tariffs charged for these population groups about 20% lower than other customers, she said.