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Cyprus

Electricity prices to rise on fuel hike

Energy regulator CERA expects electricity prices to rise by 2.0 per cent due to a rise in the price of fuel, a top official said on Friday.

“There will be a small rise because the price had bottomed out in the previous period because of the fuel prices,” CERA chairman Giorgos Shammas said.

CERA chairman Giorgos Shammas said after the continuous reductions in recent months, there was a small rise in the cost of fuel “and my estimation is that the rise will be 2.0 per cent.”

Oil prices have been fluctuating between $63 and $65, Shammas said

“There might be small increases or small reductions but they will be marginal; we do not pay any special attention to them if a rise does not reach double digits,” he said.

 

 

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