The next electricity bills sent out to homes are expected to be 16 per cent higher than the last, the Electricity Authority of Cyprus (EAC) said Monday.
Speaking to the state broadcaster, EAC spokesperson Christina Papadopoulou said the bills already being issued for April will see a hike in the fuel tariff, due to rising oil prices globally.
The state-run utility estimates a total increase in the invoices of 16 per cent.
Meanwhile, over the past year or so electricity prices have shot up some 40 per cent – a combination of more expensive fuel plus pricier emissions allowances.
As for the reduction in VAT on electrical bills from 19 to 9 per cent – a temporary measure to alleviate pressure on consumers – Papadopoulou said this would be seen in invoices issued in May and June.