Cyprus Mail
News in Brief

Temporary green tax to ensure RES viability

THE PARLIAMENT yesterday approved a ‘temporary green tax’, deemed necessary by the government to ensure the short-term viability of the Renewable Energy Sources (RES) fund.

The RES fee, charged to all electricity consumers, will now go up to €0.065 per kWh from €0.005 per kWh.

The increase applies only until the end of December.

The government’s initial intention was to raise the fee to €0.0075 per kWh, but at the plenum the parties voted through an amendment tabled by the Greens’ George Perdikis for a smaller hike.

The RES fund has run into funding difficulties due to hitherto falling fuel prices.

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