Two-week wait to find out electricity hike

Consumers will have to wait two more weeks to find out if the Electricity Authority of Cyprus (EAC) hikes its tariffs by 3 per cent, reports said on Tuesday.

The matter of the rate raise was discussed anew in parliament. There, EAC boss Giorgos Petrou confirmed that initially they had asked for a 7.5 increase on electricity bills – something which the energy regulator accepted at the time.

Of this proposed raise, the 5 per cent related to the year 2023, and the 2.5 per cent to 2025.