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NEW: Regulator cuts electricity prices by 5pc

12/04/13
IN light of the serious economic crisis sweeping the island, the energy regulator (CERA) decided to cut the price of electricity by 5.0 per cent, it was announced today. The reduction will be temporary and will be reviewed every two months, CERA said. The reduction follows a recent decision to scrap a 5.75 per cent surcharge on electricity bills imposed after the Mari naval-base munitions explosion incapacitated Cyprus’ largest power station... 7 comments

Electricity demand falls by almost a quarter

04/04/13
THERE has been a large reduction in the demand for electricity due to the economic crisis and the closure of businesses according to the head of the energy regulator CERA, George Shammas. He also added that CERA would look into possibly further decreasing the cost of electricity. “There has been a huge drop in demand for electricity and it is 20 to 25 per cent below what it was two years ago,” he said. Shammas presented CERA’s findings to the House Finance Committee along with the Electricity Authority’s (EAC) proposed budget. CERA’s budget of €1.91 million for 2013 foresees a surplus and is €690,000 higher than 2012. The EAC’s income for 2013 is estimated to be €2.15 million, €700,000 more than in 2012... 10 comments
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