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12° Nicosia,
28 February, 2024
 

Electricity bills to drop by 12% starting November 1

Government measures spark significant reduction as state-owned power company implements subsidies

Newsroom

In a recent announcement, consumers in Cyprus can expect a 12% reduction in their electricity bills starting November 1. According to the spokesperson for the state-owned power company (AHK), Christina Papadopoulou, this reduction is in line with measures outlined by the government, providing subsidies to offset the increased energy costs incurred since June 2022.

Papadopoulou clarified that these measures will remain in effect for a four-month period, with the subsidy scaling based on consumption levels. She highlighted that the 12% reduction is a direct result of the implemented measures.

"The cost per kilowatt-hour has decreased from 35 cents to 30 cents. It's a significant reduction, an outcome of the measures announced by the government," she added. She also noted a recent international decrease in fuel prices, suggesting a positive impact on future invoices for both electricity and liquid fuels.

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Cyprus  |  energy  |  economy  |  subsidies

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