Household electricity prices rise by 5 per cent in November

Household electricity prices in Cyprus have risen by 5 per cent in November, the Electricity Authority of Cyprus (EAC) said on Thursday. EAC spokeswoman Christina Papadopoulou told CNA that the increase applies to an indicative bill for a family of four using 800 kilowatt hours over a two-month period. The price per kilowatt hour, including 5 per cent VAT, now stands at 33 cents. Papadopoulou said the increase was linked to higher fuel prices amid the ongoing international energy crisis. She explained that changes in global oil prices are passed on to consumers with a delay of around two months, as the EAC maintains fuel reserves. However, she stressed that any future reduction in fuel prices would also be reflected in electricity bills. Electricity tariffs are regulated and approved by the Cyprus Energy Regulatory Authority, with charges monitored by the relevant authorities, she added.