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Further reduction of 8% on electricity bills

02/03/2015 18:56
The Electricity Authority of Cyprus (EAC) is reducing electricity prices by 8% for February and March, raising overall reduction in the last two months to 15%, as a result of lower fuel costs.

However, EAC Director General Stelios Stylianou has said that the price of electricity was likely to take an upward trend based on fuel prices internationally.

“Prices internationally are increasing, therefore we do not expect similar reductions in the next months,” Stylianou told a press conference.

“At this time and for the next two months, February and March, we will have a reduction of 8%,” he noted.

Stylianou said that household bills have been reduced by 14% in the last two months, while total reduction since the beginning of 2013 stands at 35%.

“These numbers are very important for households and companies today facing an uncertain economic environment,” he noted.