In-Cyprus 4 September 2018
Consumers will have to dig deeper into their pockets to pay their next electricity bills because of higher fuel prices, during a period when use of air conditioners has pushed up consumption. The increase is estimated at some 12.5%.
Fuel prices for the previous billing period were €394 a metric ton. Bills for August and September will be calculated on the basis of €460.37 a metric ton. Compared to the corresponding two month period last year when fuel prices were €318.20 this represents an increase of nearly to 45%.
The latest increases mean an additional cost of 4 cent per kilowatt plus the additional increases because of VAT and other fees that are levied as a percentage of the total..
The basic price of every kilowatt is 13.11 cent (9.23 cent for energy plus 3.21 cent for the network and 0.67 cent for additional services. The net cost per kilowatt will therefore be 17.11 cent. To this must be added other fees such as levy for renewable energy,
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