Nicosia:Household electricity prices in November have increased by approximately 5% compared to the previous month. This change is reflected in an indicative bill for a four-person household consuming 800 kilowatt-hours (kWh) over a two-month period, as reported by the Electricity Authority of Cyprus (EAC) spokesperson Christina Papadopoulou.

According to Cyprus News Agency, Papadopoulou stated that electricity bills are issued daily, with fuel price adjustments made at the end of each month. The current electricity price stands at £0.33 per kWh, including 5% VAT, with the increase attributed to rising liquid fuel prices amid the ongoing global energy crisis.

Papadopoulou emphasized that reducing energy costs is a significant concern for all EU member states. She explained that fluctuations in international oil prices are passed on to consumers with some delay, as the EAC is required to maintain fuel reserves sufficient for approximately two months. She assured that any potential price reduction would be passed on to consumers, as the EAC operates under full regulation.

Furthermore, Papadopoulou highlighted that EAC electricity tariffs are regulated and approved by the Cyprus Energy Regulatory Authority (CERA), with electricity charges being subject to oversight by the relevant authorities.