“I asked for no further electricity price increases’, President Christodoulides made clear today, confirming a Philenews report that he had communicated with the Electricity Authority and the Energy Regulator, with a stern warning against a 9% hike.
“We had a relevant meeting away from the public spotlight on this specific issue, and I asked that no increases be added, especially at this current phase’, he added. Under the circumstances, he further noted, an increase should not proceed and expressed the hope that the Energy Regulator will respond.
As Philenews wrote yesterday, the increase in price would cover EAC operational costs.
If the regulator denies EAC a rise of its tariffs, it will be the third consecutive year that the Authority is blocked from recovering expenses which have been approved by the regulatory Authority.
