Cyprus Mail

North rows back on electricity bill price hikes

kib tek head office
Kib Tek head office

The north’s electricity authority (Kib-Tek) on Tuesday night walked back plans to increase electricity tariffs by nearly a third, having announced the price hikes just hours earlier.

The latest adjustment impacts residential properties paying both the flat-rate and “three-time” tariffs.

Those paying the flat-rate tariff will now pay 2.5199TL (€0.08) per kilowatt hour for their first 250 kilowatt hours of usage, 5.1986TL (€0.17) per kilowatt hour for usage between 251 and 500 kilowatt hours, 5.5897TL (€0.19) per kilowatt hour for usage between 501 and 750 kilowatt hours, 6.0690TL (€0.20) per kilowatt hour for usage between 751 and 1,000 kilowatt hours, and 7.2321TL (€0.21) per kilowatt hour for usage above 1,001 kilowatt hours.

Residential properties paying the “three-time” tariff will now pay a normal rate – for usage between 7am and 5pm – of 5.1987TL (€0.17) per kilowatt hour, a peak rate – for usage between 5pm and 10pm – of 7.1919TL (€0.24) per kilowatt hour, and an off-peak rate – for usage between 10pm and 7am – of 3.4270TL (€0.11) per kilowatt hour.

The new figures represent an approximately 15 per cent increase on the previous tariffs, down from the increase of nearly a third announced on Tuesday.

The remainder of the tariffs announced on Tuesday remain in force and apply to all electricity consumed in the north as of Wednesday.

In the Republic, the Electricity Authority (EAC) charges residential customers a flat rate energy charge of €0.1035 and a network charge of €0.0302 per kilowatt hour.

It also has a “two-rate” tariff, with the “peak” rate – between 9am and 11pm – chargeable at €0.1105 per kilowatt hour and the “off peak” rate – between 11pm and 9am – chargeable at €0.0901 per kilowatt hour, with the network charge the same as the flat rate tariff.

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