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8% drop in electricity bills

March 5, 2019 at 10:30am

Consumers will see a reduction of 8% in their electricity bills, starting from this month, due to a decrease in oil prices and changes in the pricing policy of kilowatts, Phileleftheros reported on Tuesday.

According to the newspaper, the price of the fuel that EAC uses has dropped by around 35%, leading to a drop in the cost of kilowatts, from 5.02 cents per kilowatt to 3.43 per kilowatt.

For example, a household that consumed 1,000 kilowatts per two months last year would have been charged €233.07. With current prices, it will be charged €214.74.

Another reason that led to the drop in electricity prices, is a decision by the Cyprus Energy Regulatory Authority to stop including the cost created by the delay in the repair of the Vasilikos power plant 3, in electricity bills.

Although the plant has been idle for a long time because it has not been repaired in time, it has been burning expensive mazut, the cost of which, was covered by consumers, until now.