The energy regulator, CERA, has decided to raise a temporary reduction on the basic tariffs of electricity from 5.0% to 8.0%, at the same time extending it for a further two months.
The original decision was taken in April this year, citing the dire economic conditions in the country. CERA said it would re-examine the situation at the end of the two months. A change in the decision will depend on conditions at the time, including the viability of the electricity company, EAC.
It will also take into consideration the EAC’s pledge to roll out a programme to cut operational costs, and implementing measures to increase productivity and reducing the cost transferred on consumers.
Source: Cyprus Mail
