EAC bills to drop slightly

THE electricity authority (EAC) said yesterday that consumers should expect a slight cut in bills in the coming months due to the decrease in oil prices.

“We believe that in the next (few) months bills will be less expensive than what they are today,” EAC chairman Harris Thrassou told state broadcaster CyBC.

He said the delay in the adjustment was because Cyprus had to exhaust its current oil reserves, which had been bought at a higher price.

Cyprus is obliged to have oil reserves for three months.

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.