The chairman of the electricity company (EAC) on Wednesday announced a 5.0 per cent cut in December charges as a result of falling oil prices.
Giorgos Theodoulou said because of the fall in the international price of oil, electricity bills will “show a significant decrease of around 5.0 per cent.”
The EAC chairman said the price of electricity will continue to drop as long as the international price of fuel fell.
Theodoulou met with the head of the Ctizens Alliance Giorgos Lillikas whom he briefed about the EAC’s effort to reform.
“The EAC is in the middle of a persistent and painstaking procedure of rationalisation,” the chairman said.