At the time of writing, the average price per kw/h for electricity is 22 cents (gross, incl taxes). It went up 30% in September. The Electricity Authority of Cyprus (EAC) has nine different types of charges on its bill. These are: fuel consumption, network usage, 'subsidiary services', meter measurement, electricity supply, adjusted electricity charge, common expenses, VAT at the unfairly full rate of 19%, and renewable energy charge.
The bills are charged at a fixed rate of 300 MT no matter what. Whether crude oil prices are up or down, the base rate never changes. The EAC says it does this in order to provide a cushion for consumers during the times of high oil prices. This is clearly not the case because the charge per kw/h is rising.
In addition, when the crude oil prices go up, the EAC should burn natural gas until they are at a more affordable level. This is the trend in the EU and fast becoming a law according to EU energy policy: https://www.forbes.com/sites/davekeating/2018/04/30/in-europe-gas-is-king/#11c8db1467ad
I ask the Electricity Authority of Cyprus, the House of Representatives and President Nicos Anastasiades to accept our petition on the grounds that the charges are too many and an unfair burden on households and businesses.
The EAC makes almost one billion Euros per year and has high profits even though it is supposed to be a public service it behaves like a for-profit company at the expense of consumers and taxpayers. In the absence of competitors, the EAC has a duty to be fair to consumers.
The charges must be lowered somehow, by burning natural gas instead of expensive mazut or other means. Instead of making such high profits, lower the costs to consumers.
Please help us to save the economy of this small island, where salaries are lower compared to the EU average.
Thank you for your consideration.
With best regards,