The Cyprus Energy Regulatory Authority (CERA) decided to adjust the extraordinary temporary reduction on all basic EAC prices from 5% to 8%.
According to an announcement by the Authority, it was also decided to extend for another two months the extraordinary temporary reduction on all basic EAC prices of 8%, applying to consumer pricing with a monthly count, the measurements of which will start to be recorded from the end. of December 2013, and consumers with a bi-monthly count, whose measurements will start to be recorded from January 1, 2014.
CERA also decided to review before the end of the two-month period and possibly differentiate the extraordinary temporary reduction in the price of electricity, in terms of duration and amount of reduction, depending on the results and conditions that will prevail, taking take into account all the points mentioned above, the commitment of the EAC to implement an extraordinary program of savings and reductions in operating and capital costs and in particular the implementation of a binding program to streamline the organic structure of the EAC in order to increase productivity and significantly reduce costs passed on to the consumer.
As mentioned in the announcement of CERA, in order to be able to control and monitor the implementation of this Decision, the EAC is obliged to submit to CERA on a monthly basis, a detailed statement with all the necessary data.