Electricity Bills Set to Rise in Cyprus

Description:

The Electricity Authority of Cyprus (EAC) is set to increase electricity bills to consumers due to heavy fines imposed on the EAC by the European Union.
 

The fine is for the island exceeding EU quotas on CO2 emissions which the EAC say is out of their control as this is the outcome of the Cyprus Government's energy policy.
 

EAC board chairman, Harris Thrasou, said that the EAC had submitted a proposal to the Government on how to import and distribute natural gas, a cleaner option to the heavy fuel oil currently used. However, the proposals were adopted too late, hence the 'green fines'.
 

The EAC will increase electricity bills by 3% but this will only be imposed on households.
 

Small and medium sized businesses will be spared the additional surcharges for exceeding maximum demand for electricity during the hot summer months.