Price hikes exaggerated says EAC

THE ELECTRICITY Authority of Cyprus (EAC) yesterday refuted media reports announcing imminent 10 per cent increases in electricity prices.

The EAC said its tariffs rose and fell according to the international price of mazut, which is a methodology approved by parliament as well as the Energy Regulatory Authority.

“What could be said at this moment is that there will be an estimated increase of 1.4 per cent on the February-March bills, compared to the January-February bills,” it added.

The Authority went on to stress that it was impossible to predict how its prices will be altered in the future, as it all depended on the price of mazut.

It said media reports claiming there would be a 10 per cent increase by the summer were off the mark and misleading.

“The EAC’s pricing policy is readjusted each month, according to the fuel clause. The EAC does not wish to become implicated in political expediencies and is sending a plea to be excluded from the pre-election conflicts,” it said, referring to the parliamentary elections in May.

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.