Cyprus Mail

Electricity prices in north rise for second time in a month

kib tek head office
Kib Tek head office

Electricity prices in the north have been raised for the second time in the space of a month, following an announcement on Thursday by electricity authority Kib-Tek.

The new tariffs will enter into force on Friday and represent a roughly seven to 15 per cent increase across the board for consumers.

Flat rate tariff prices for residential properties are now set at 2.6963TL (€0.09) per kilowatt hour for the first 250 kilowatt hours of usage, 5.5625TL/kwh (€0.18) for usage between 251kwh and 500 kwh, 5.9810TL/kwh (€0.19) for usage between 501kwh and 750kwh, 6.4831TL/kwh (€0.20) for usage between 751wh and 1,000kwh, and 7.7383TL/kwh (€0.24) for usage above 1,001kwh.

These figures are increases on the current rates of 2.5199TL, 5.1986TL, 5.5897TL, 6.0690TL, and 7.2321TL respectively.

Residential properties paying the three-time tariff will now pay a “normal” rate – between 7am and 5pm – of 5.5625TL/kwh (€0.18), a “peak” rate – between 5pm and 10pm – of 7.6952TL/kwh (€0.24), and an “off peak” rate – between 10pm and 7am – of 3.6668TL/kwh (€0.12).

These figures are increases on the current rates of 5.1987TL, 7.1919TL, and 3.4270TL respectively.

The current tariffs came into force at the start of the month. Kib-Tek had initially announced a price increase by almost a third, but scaled back the price hikes after receiving backlash from consumers.

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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