The Electricity Authority of Cyprus (EAC) announced a 4.5 per cent drop in the price of electricity on Thursday that will be applied to November bills, set to be received this month.
According to EAC spokeswoman Christina Papadopoulou, the fall in price is primarily due to the fall in international fuel prices and due to better management within the organisation.
“An 800KW usage for two months will cost €138 in December. Last year this would have been €178,” she said.
The measure will affect the 05, 06, 07 and 08 household tariffs.
The EAC also announced they would not be cutting off power for people with unpaid bills in light of Christmas celebrations. The move will be effective for four weeks, starting from December 14 to January 10.
This year, electricity prices fell by 22 per cent while over the past two years the decrease has hit the 27 per cent mark, Papadopoulou stipulated.
“Over the past three years there has been a 40 per cent decrease.”