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Electricity prices increase twice yearly on average

Electricity prices increase twice yearly on average

December 27
10:05 2016

The price of electricity has been increased 32 times over the past 16 years, irrespective of which government was in power, a report by Turkish Cypriot daily ‘Kibris’ says.

Electricity price hikes have been made regularly with the maximum increase taking place in 2008.

Following a decision by the Council of Minister, the Electricity Authority’s 23 percent increase in the VAT rate for tariffs valid from December 21, 2016, was a “New Year surprise” for citizens during the cold winter months.

According to research carried out by ‘Kibris’ over the last 16 years from 1 January 2000 to 21 December 2016, it emerges that electricity tariffs are raised almost every year.