In this unprecedented and testing time for the country and its people, and in view of the collective effort to return to a state of normality, the EAC Board of Directors has taken a decision which has a significant social and financial impact: To extend by a further two months the duration of the 10% reduction on the price of electricity charged to consumers.
The EAC Board of Directors has informed the Cyprus Energy Regulatory Authority (CERA) of its decision. As the competent authority, CERA has to approve it.
This move by represents approximately €20 million, which EAC will give back to Cypriot society and the economy. It is being implemented in the context of EAC's financial capability and robustness, the strict requirements of its Development Plan and, as always, its guiding principle of supporting the country's citizens and businesses in dealing with the major challenge of beating the crisis, all of us together..
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Press Office: 29 April 2020
