Cyprus Mail
Cyprus Energy

EAC cuts back on unpaid bills

Prospects of privatisation of some of EAC's services could lead to further trade union strikes

By Constantinos Psillides

THE Electricity Authority of Cyprus (EAC) has reduced the amount of unpaid bills by 45 per cent in a year, spokesperson Christina Theofanidou said on Thursday, stressing that the goal is to lower the number even further.

According to Theofanidou, EAC was owed €40m in unpaid bills on April 30, 2014, while on April 30, this year that had dropped to €22m.

“Of course we are happy over this development. The EAC has taken steps towards collecting that money and it seems that we have been successful,” she said.

The EAC spokesperson attributed the drop in unpaid bills to electricity charges dropping by 20 per cent from last year that allowed people to afford to pay past debts, introducing a 4.5 per cent late charge on unpaid bills in September 2014 and making it easier for people to pay in instalments.

“A total of 10,000 people came to the EAC offices last year to arrange for an agreement. Most of them didn’t stick to that agreement, but around 3,500 people did,” she noted.

EAC is also owed €17m in what is referred to as “closed accounts” with minimal chance of ever collecting. “These are accounts belonging to people who relocated under a different name, left the country without paying or businesses that went bankrupt. The EAC is doing it’s best to find these people, but the chances of actually collecting money are slim to non-existent,” she offered.

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