Electricity Prices in Cyprus Could Rise by 20% by August
Electricity tariffs in Cyprus could increase by up to 20% by August amid rising global fuel prices.
According to the Electricity Authority of Cyprus (EAC), with oil prices at around $102 per barrel in May, a tariff increase of approximately 5% is expected.
However, if prices continue to rise to $110–115 per barrel by August, electricity bills could increase by as much as 20% compared to current levels.
The authority noted that the market situation remains unstable due to fuel supply disruptions linked to tensions in the Persian Gulf.
Despite this, the EAC continues to purchase fuel as usual to ensure necessary reserves.
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