Cyprus business not happy with electricity hike

DESPITE announcing that public consultations would be held to hear the views of organisations and other groups concerning the hikes, no one, apart from one citizen, requested information about it.

The intent to have public consultations was announced through paid advertisements in the newspapers while officials said it repeatedly in public statements.

CERA gave a month to those interested to submit their questions and recommendations but the ‘public consultation’ was mainly limited a dialogue between CERA and the EAC.

The Consumers Association however said that it had made clear to CERA – apparently before the public dialogue was announced – that any increases should be coupled by a commitment from the EAC to sort out its finances.

The Association is also worried that the increases would be transferred to consumers by other companies.

The Chambers of Commerce and Industry (KEVE) expressed its opposition to the hikes, although it is understood that they did not take part in the public consultations either.

In a written statement, KEVE said the electricity prices paid by Cypriot businesses are among the highest in the European Union.

“The imposition of the proposed hikes, especially at this difficult period of economic recession, will worsen the position of Cypriot businesses further,” KEVE said.

The Chamber urged the EAC to go ahead with the necessary savings in operating expenses and at the same time expedite investment to transfer to natural gas from crude as a fuel for the production of energy.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.