The electricity company EAC said on Wednesday it will help people pay through instalments, with an annual interest of 4.5 per cent, in a bid to collect some €60 million in overdue bills.
The EAC said consumers interested in the scheme must apply by September 1, 2014.
“It is a measure we had to put in place,” EAC spokesman Costas Gavrielides said. “The EAC is owed a substantial amount – €60 million – we think that in this way our customers will be helped to pay off accumulated bills.”
Consumers on the 08 tariff, which include vulnerable groups, will not be charged any interest.
The EAC also said that as of September 1, it will also be charging a 4.5 per cent annual interest on all bills not settled on the due date, except those under the 08 tariff.
For instance, if the overdue amount is €200 for one month, the interest paid would be €0.75 cents.
“As far as I know this the lowest charge levied by any government or wider public sector service,” Gavrielides said.
Until now, the EAC did not charge any late fees.
The spokesman said the decision was made after the EAC realised that some customers delayed paying even though they could, using the money elsewhere.
For more information contact the EAC customer service centres or visit the webpage: https://www.eac.com.cy/EN/CustomerService/Pages/default.aspx