In Cyprus, an increase in electricity tariffs is looming

The Cyprus Electricity Authority (EAC) has presented a draft of new tariffs for consideration by the Cyprus Energy Regulatory Authority (CERA).

According to the draft laws submitted for the year 2024, if approved by the Cyprus Energy Regulatory Authority, there will be an increase of approximately 6%. This will affect the total price in the final bill for electricity when and if it is approved by CERA.

"Based on the approved procedure and methodology, CERA allows us to achieve minimal reimbursement of our costs through tariffs, in order to be able to implement our development program," said Christina Papadopoulou, a spokesperson for the agency, during the ALPHA Kalimera show.

The campaign representative also explained that the funds are necessary for the implementation of projects contributing to reliable electricity supply.

It is worth reminding that last year, EAC submitted a request that would have led to a 25% increase in the final price per kilowatt, but it was rejected by CERA.