THE ELECTRICITY regulator yesterday decided to extend the current five per cent reduction in electricity prices for another two months.
Cyprus’ Electricity Regulatory Authority (CERA) renewed their decision to continue with the 5 per cent decrease in light of the severe financial crisis on the island, they said on their website.
The lower rate will continue for another two months from the end of June for people paying on a monthly basis, and from July 1, for those who pay their bills on a bi-monthly basis, it was announced yesterday.
The decision to cut the cost of electricity to consumers was taken by CERA on April 12 in an effort to reduce the consequences to the public.
Under the initial decision, CERA will conduct a review every two months and possibly make more reductions on an emergency temporary basis depending on the prevailing conditions.
The decision by CERA can be found on their website www.cera.org.cy