Electricity prices for November are up by about 5 per cent for a typical household, with a kilowatt hour costing 33 cents, the Electricity Authority of Cyprus (EAC) said on Thursday.
EAC spokeswoman Christina Papadopoulou attributed the increase to higher liquid fuel prices resulting from the international energy crisis. Reducing energy costs was a concern for all EU member states, she added.
The price includes 5 per cent VAT. The figure is based on an indicative bill for a family of four using 800 kilowatt hours over two months.
Any rise or fall in international oil prices is passed on to consumers with some delay, because the EAC must keep about two months’ worth of fuel stocks, Papadopoulou said. Bills are issued daily, while the fuel price adjustment is made at the end of each month.
“There is no way a decrease will not be passed on to the consumer,” she said.
The EAC is fully regulated, she added, and its tariffs are regulated and approved by the Cyprus Energy Regulatory Authority (CERA), with electricity charges always checked by the relevant authorities.
