Fuel Price Adjustment

​​​​​​​The cost of Electricity Generation at the Basic Fuel Price and the Fuel Adjustment are charged separately in the electricity bill.

The basic fuel price is €300 per Metric Ton (MT). The Fuel Adjustment charge is calculated based on the Weighted Average Fuel Price for the current month and the Fuel Adjustment Coefficient.

The Weighted Average Fuel Price reflects the cost of the fuel purchases, the cost of greenhouse gas (CO2) emissions and the cost of preserving strategic fuel reserves. It is the sum of the purchase cost of the fuel consumed during the previous month, the cost of the greenhouse emission rights required and the charges of the Cyprus Organisation for Storage and Management of Oil Stocks (COSMOS).

The Fuel Adjustment Coefficient reflects the increase/decrease to the cost of 1 kWh in euros, when the Weighted Average Fuel Price increases/decreases by 1 euro. The Fuel Adjustment Coefficient is re-evaluated every six months.

The total fuel adjustment cost is calculated every month according to the following formula:

Fuel Adjustment (cent/kWh) = (Weighted Average Fuel Price - Basic Fuel Price) x (Fuel Adjustment Coefficient) x 100


The fuel adjustment charge as calculated above, is revised when the Avoidance Cost of Thermal Production of EAC's Generation exceeds 11 cent/kWh at Low Voltage, according to the methodology approved by Cyprus Energy Regulatory Authority with the Decision No. 148/2023.

EAC Supply's customers will be charged to their invoices based on the revised charge for the fuel adjustment price as it is presented in the Table below:


Fuel Adjustment for the Current Year






Monthly 
Consumers
Bimonthly 
Consumers
Weighted 
Average Fuel Price


​​

​​​ ​​

​​Fuel Adjustment (cent/kWh)

Thermal Production (cent/kWh)

​(adjustment on basic tariff price)


​​
Revised Fuel Adjustment Price (differentiation on basic price)
(cent/kWh)
VOLTAGE
Fuel Adj. 
Coefficcient

2023
Euro

​Voltage

Total
Fuel
​CO2 
emissions
​COSMOS
HIGH

​0,00023889
 

 January

975,02
HIGH
16,1256
9,4981
6,5100
0,1175
MEDIUM
​0,00024098
​​MEDIUM
16,2666
9,5811
6,5669
0,1186
​LOW 
​0,00024311
​​LOW
16,4104
9,6658
6,6250
0,1196
​HIGH
​0,00025438
January

February

910,36
HIGH
15,5263
8,7837
6,6037
0,1389
​​​MEDIUM
​0,00025939
MEDIUM
15,8321
8,9567
6,7338
0,1416
LOW 
​​0,00026450
​​LOW
16,1440
9,1332
6,8664
0,1444
​​​HIGH

​0,00025438
February
March931,11

HIGH
16,0542
8,3686
7,5543
0,1313
MEDIUM
​0,00025939
​​MEDIUM
16,3704
8,5335
7,7031
0,1338
LOW 
​0,00026450
LOW 
16,6929
8,7015
7,8549
0,1365
HIGH
​0,00025438
MarchApril869,06
HIGH
14,4757
7,3068
7,0562
0,1127
MEDIUM
​0,00025939
MEDIUM
14,7608
7,4507
7,1952
0,1149
LOW 
​​0,00026450
LOW
15,0516
7,5974
7,3370
0,1172
HIGH
​0,00025438
AprilMay
889,71

HIGH
15,0010
7,7135
7,1295
0,1580
MEDIUM
​0,00025939
MEDIUM
15,2965
7,8655
7,2699
0,1611
LOW 
​​0,00026450
LOW
15,5978
8,0204
7,4131
0,1643
​HIGH

​0,00025438
MayJune

835,80

HIGH
13,6297
6,6490
6,8644
0,1163
MEDIUM
​0,00025939
​​MEDIUM
13,8981
6,7800
6,9996
0,1185
​​​LOW 
​0,00026450
​​LOW 
14,1719
6,9135
7,1375
0,1209
​HIGH
​0,00025438
JuneJuly
837,94
HIGH
13,6841
6,3826
7,1850
0,1165
12,6401​
MEDIUM
​0,00025939
​​MEDIUM
13,9536
6,5083
7,3265
0,1188
12,8991
​​​LOW 
​0,00026450
LOW
14,2285
6,6366
7,4708
0,1211
13,1683​
​HIGH
​0,00024042
JulyAugust
830,29

HIGH
12,7492
5,9847
6,6325
0,1320
11,9352​
MEDIUM
​0,00024730
MEDIUM
13,1141
6,1560
6,8223
0,1358
12,2859
​​​LOW 
​0,00025464
LOW
13,5033
6,3387
7,0248
0,1398
12,6639
​HIGH
​​0,00024042
AugustSeptember
849,72

HIGH
13,2164
6,4537
6,6293
0,1334
12,2290​
MEDIUM
​​0,00024730
MEDIUM
13,5946
6,6382
6,8191
0,1373
12,5895
LOW 
​​0,00025464
LOW 
13,9981
6,8354
7,0214
0,1413
12,9785​
​HIGH
​​

 September

October


HIGH


MEDIUM
​​​​
​MEDIUM


LOW 
​​
​LOW 



HIGH
​​

 October

November


HIGH



MEDIUM

MEDIUM


​​​LOW 
​​​
LOW


​HIGH
​​​
NovemberDecember                             
HIGH


MEDIUM

MEDIUM


​​​LOW 
​​​​
LOW


HIGH

December​ January 2024

HIGH

​​​MEDIUM

MEDIUM

LOW 
​​​
LOW​


​​


​Historical Fuel Adjustment Prices​

The following file lists the fuel prices, fuel adjustment coefficients and fuel price adjustments for the period 2013-today. The data are presented in graphical and user-friendly tables.​


Historical Prices 2013-2023​​​​​​​​​​​​​​​​​​​​​​