The government on Friday announced a 10 per cent discount on electricity bills for the next four months, as well as renewable energy schemes aimed at long term savings for businesses and households.
Energy Minister Natasa Pilides said the electricity company (EAC) will absorb part of the cost of the increase in electricity caused by rising fuel prices and the cost of emissions.
“The government understands the pressure on businesses and households caused by the pandemic and has prepared proposals to mitigate the effects,” Pilides said.
She added that consumers will receive a 10 per cent reduction on November-December and January-February 2022 bills.
Speaking at a news conference, Pilides said the government will also be rolling out a series of measures to provide consumers with the means of reducing the cost of power permanently.
Among them is virtual net metering, addressed to consumers who cannot install PV on their roofs, as well as subsidies to vulnerable groups to either buy new or replace refrigerators and air conditioning units.
Vulnerable groups will also receive assistance to replace their lights with led lamps.
The ministry is also processing a RES scheme for farmers that will be announced early next year.
It will also be announcing subsidies for large commercial projects that will include power production and storage.
The minister said the EAC will be looking into buying emission rights early in the year when they are cheaper and selling any surplus later on.
CYPRUSMAIL