Newsroom
Even though the chairman of the Electricity Authority of Cyprus (AHK), Giorgos Petrou, recently stated that the AHK would be requesting only a modest 3% electricity price hike, the utility’s technocrats are still pushing for an increase of up to 7.5% before VAT.
According to Kathimerini's Dortia Yiannakou, the shift from the earlier intention comes despite a direct request from the President of the Republic, who urged that no increases be introduced at this stage. The revised, smaller hike was expected to support the AHK’s development plans without placing further pressure on households. However, the latest push signals a return to the original higher rate.
The issue was discussed Tuesday in the House Energy, Commerce, Industry and Tourism Committee, where it was confirmed that the AHK is pushing for a 7.5% increase based on May’s bills, excluding VAT. Once VAT is included, the total hike could reach around 9%.
The Cyprus Energy Regulatory Authority (CERA) has yet to approve the AHK’s request.
During the session, Fanos Karantonis, head of the Renewable Energy Companies Association, voiced concern about political interference in electricity pricing, warning it could distort the energy market. Consumer groups also expressed strong objections, pointing to the financial burden on households and businesses that would result from such a hike.
Lawmakers asked AHK officials for detailed justifications, especially in relation to infrastructure projects already completed or due to begin operation soon. In previous years, CERA had rejected AHK requests to increase prices to recoup approved expenses from completed projects.
As it stands, the final decision on electricity tariffs and how much Cypriots will pay in the coming months rests with the regulator.
