EAC takes energy regulator to court for blocking price hikes
11:03 - 20 October 2023
The Electricity Authority of Cyprus (EAC) has decided to take energy regulator CERA to the Administrative Court for blocking its effort to increase electricity prices
The Cyprus Energy Regulatory Authority had refused a demand by the EAC back in September to increase basic electricity tariffs; it initially requested 25% but brought it down to 13%.
So the EAC’s Board of Directors said that it has decided to appeal CERA’s decision in court, as it considers the hikes a must in order for the semi-government organisation to sustain its viability.
“We have a duty to ensure the stability and reliability of the Network and to proceed with implementing projects and updating the infrastructure that will contribute substantively to the major target that has been set by the state for the country’s Green Transition,” the EAC said in an announcement.
It added that CERA’s decision means that it will have to revise all the targets that it has set.
Whatever the outcome, the price hikes will be going ahead; it’s just a matter of when. CERA said in its decision that even though EAC’s request to increase the prices was justified, it was being rejected in the name of public interest because of the effect the already inflated electricity bills brought on by steep energy prices was having on people and businesses.