The electricity regulator on Thursday decided to renew the current five per cent reduction on the basic tariff payable to the electricity authority.
Cyprus’ Electricity Regulatory Authority (CERA) renewed their decision to continue with the 5.0 per cent decrease, a move which was first taken on April 12 in light of the debt crisis.
The lower rate will continue for another two months from the end of October for people paying on a monthly basis, and from November 1, for those who pay their bills on a bi-monthly basis, CERA said.
CERA said that in the coming two months they would be looking into the duration and extend of the reduction. The regulator said they wanted to see passed on to the consumers the results from the electricity authority’s efforts to increase savings and become more productive.
The decision by CERA can be found on their website www.cera.org.cy