CYPRUS: Consumers to get 5% shock on electricity bills

Consumers in Cyprus will get a nasty shock when their electricity bill arrives to see a 5% hike for June which is already an expensive month.

According to the Electricity Authority of Cyprus, the cost of power in June will be 5% higher than last month and 12% more compared to June 2018.

EAC spokesperson Christina Papadopoulou said that the price of electricity has gone up as a result of the increase in the price of petrol.

She said the upward trend of oil prices has continued in recent months. Up until May, EAC was producing power from a shipment that was purchased at a cheaper rate.

As of June, EAC is using fuel bought at a higher price and this will be passed on to the consumer.

Papadopoulou argued that June is the first time this year to record an increase in electricity prices as previous months saw prices drop.

She urged consumers not to overuse air conditioners during the summer months and recommended higher temperature settings in order to save on electricity consumption.

The ideal setting is 26 degrees Celsius, as every degree lower than that means 7% more energy is needed to power air conditioners.

Source: The Financial Mirror