Electricity prices to rise by more than 5% in June

Chat with fellow forum users. No adverts or trade links in here please.
User avatar
memory man
Posts: 2602
Joined: Wed Dec 28, 2016 7:30 am

Electricity prices to rise by more than 5% in June

Post by memory man » Mon Jun 10, 2019 2:41 pm

Household consumers will see an increase of more than 5% in their June electricity bills, according to the Electricity Authority of Cyprus (EAC).

According to EAC spokeswoman Christina Papadopoulou, the increase is due to a rise a in global oil prices.

She said that EAC must keep fuel reserves for three months. Authorities check the average cost of fuel every month, she added.

https://in-cyprus.com/electricity-price ... -june-eac/
Image

User avatar
Happy in Cyprus
Posts: 3966
Joined: Sun Jan 01, 2017 10:08 am
Location: Ha Potami, Kouklia
Contact:

Re: Electricity prices to rise by more than 5% in June

Post by Happy in Cyprus » Mon Jun 10, 2019 3:01 pm

Fully understand your sentiment Vicky, but oil prices have gone up in recent months and EAC's production costs are locked in to the price of oil.

Is the new power station (I didn't know there was one) going to be operated by an independent service provider then, as opposed to EAC?

WHL
Posts: 2532
Joined: Sat Mar 25, 2017 2:43 pm

Re: Electricity prices to rise by more than 5% in June

Post by WHL » Mon Jun 10, 2019 3:14 pm

Flossie wrote:
Mon Jun 10, 2019 2:53 pm
Greedy bar stewards cashing in on the warmer weather and increase in demand for air conditioning!!! The sooner the new power station is open and there is competition to supply the power the better for all!
Dont hold your breath :lol:

trevnhil
Posts: 3426
Joined: Wed Dec 28, 2016 12:12 pm
Location: Polemi

Re: Electricity prices to rise by more than 5% in June

Post by trevnhil » Mon Jun 10, 2019 5:22 pm

Oil prices have come Down in recent weeks hence the drop in Petrol and Diesel fuel prices..
Trev..

Varky
Posts: 724
Joined: Sat Mar 25, 2017 11:44 am
Location: Anarita

Re: Electricity prices to rise by more than 5% in June

Post by Varky » Mon Jun 10, 2019 5:53 pm

trevnhil wrote:
Mon Jun 10, 2019 5:22 pm
Oil prices have come Down in recent weeks hence the drop in Petrol and Diesel fuel prices..
You and HiC should get together and decide whether oil prices have gone up or down!

User avatar
Happy in Cyprus
Posts: 3966
Joined: Sun Jan 01, 2017 10:08 am
Location: Ha Potami, Kouklia
Contact:

Re: Electricity prices to rise by more than 5% in June

Post by Happy in Cyprus » Mon Jun 10, 2019 5:56 pm

Yes Trev, but don't forget that oil supplies are forward bought weeks and months in advance...and EAC will then be committed to paying those prices, irrespective of whether they actually go up or come down afterwards. Oil is usually bought in USD, so a shift in currencies can also have an effect. Same with airlines and jet fuel.

Not making excuses for EAC...just saying!

User avatar
cyprusmax47
Posts: 2919
Joined: Wed Dec 28, 2016 10:10 am
Location: Paphos area since 1982

Re: Electricity prices to rise by more than 5% in June

Post by cyprusmax47 » Mon Jun 10, 2019 6:50 pm

Just got a e-mail from EAC with my latest bill and it is as it was in previous periods 19.82 Euro+VAT for the 2 month, thanks to my small PV system I installed one year ago. It just confirms that I did the right decision to invest some money to produce my own electricity on the roof...and many people with the space for the panels are as happy as I am..

Max

trevnhil
Posts: 3426
Joined: Wed Dec 28, 2016 12:12 pm
Location: Polemi

Re: Electricity prices to rise by more than 5% in June

Post by trevnhil » Mon Jun 10, 2019 7:26 pm

I am certainly happy that we installed PV panels on our roof. We are producing around 18 to 19kwh on a clear day
Trev..

WHL
Posts: 2532
Joined: Sat Mar 25, 2017 2:43 pm

Re: Electricity prices to rise by more than 5% in June

Post by WHL » Mon Jun 10, 2019 11:42 pm

Flossie wrote:
Mon Jun 10, 2019 5:13 pm
I am not as pessimistic as you - if you were living here when the only telecoms comany was Cyta then you'll remember how the prices improved once competition was allowed!
I have lived here for over thirty years thanks, let us know when the new power station has been build, and running cheers

User avatar
Jimgward
Posts: 1987
Joined: Fri Dec 30, 2016 8:14 pm
Location: Lanark
Contact:

Re: Electricity prices to rise by more than 5% in June

Post by Jimgward » Tue Jun 11, 2019 9:53 am

Producing on average 30kwh per day - over 800 per month and climbing

trevnhil
Posts: 3426
Joined: Wed Dec 28, 2016 12:12 pm
Location: Polemi

Re: Electricity prices to rise by more than 5% in June

Post by trevnhil » Tue Jun 11, 2019 10:30 am

But one has to assume you are on more than the average number of panels, ie more than a 3kw system ;-)
Trev..

Kili01
Posts: 1371
Joined: Thu Dec 29, 2016 9:41 am

Re: Electricity prices to rise by more than 5% in June

Post by Kili01 » Tue Jun 11, 2019 11:25 am

When I was living in Kamares I had a 3kwh system installed, which caused an immediate drop in my electricity charges thereafter. Since I moved house to be closer to Paphos, I no longer have PV panels. Yes, even though I now have a much smaller house, without a PV system, I was surprised how much my elec bill is now! Am even considering installing PV here, if there is enough space to do this.

Dee

User avatar
cyprusmax47
Posts: 2919
Joined: Wed Dec 28, 2016 10:10 am
Location: Paphos area since 1982

Re: Electricity prices to rise by more than 5% in June

Post by cyprusmax47 » Tue Jun 11, 2019 11:42 am

Kili01 wrote:
Tue Jun 11, 2019 11:25 am
When I was living in Kamares I had a 3kwh system installed, which caused an immediate drop in my electricity charges thereafter. Since I moved house to be closer to Paphos, I no longer have PV panels. Yes, even though I now have a much smaller house, without a PV system, I was surprised how much my elec bill is now! Am even considering installing PV here, if there is enough space to do this.

Dee
If you have not enough space for a 3 kWp system you can also install a smaller system for less investment. I have for example a 2 kWp installation which gives me daily 12-13 kWh per day at the moment. (7-8 panels only)

Max

Kili01
Posts: 1371
Joined: Thu Dec 29, 2016 9:41 am

Re: Electricity prices to rise by more than 5% in June

Post by Kili01 » Tue Jun 11, 2019 11:50 am

Max,
I didn’t know about this. Could you give me a rough idea of overall costs for a smaller system
As well as a suggestion of which company to provide it. My previous installer was Larnaca based.
Thanks for any suggestions.
Dee

User avatar
cyprusmax47
Posts: 2919
Joined: Wed Dec 28, 2016 10:10 am
Location: Paphos area since 1982

Re: Electricity prices to rise by more than 5% in June

Post by cyprusmax47 » Tue Jun 11, 2019 12:06 pm

Kili01 wrote:
Tue Jun 11, 2019 11:50 am
Max,
I didn’t know about this. Could you give me a rough idea of overall costs for a smaller system
As well as a suggestion of which company to provide it. My previous installer was Larnaca based.
Thanks for any suggestions.
Dee

I would of course recommend GreenAir Paphos, as I have a very close relationship with them. You find their contact details on the banner advertising here on PL. To get the best price they have to see your place. You can phone Mr. Andreas or Mrs. Lina at 26 941 555 to get more details. Of course they do all the paperwork for you as well...

Max

Kili01
Posts: 1371
Joined: Thu Dec 29, 2016 9:41 am

Re: Electricity prices to rise by more than 5% in June

Post by Kili01 » Tue Jun 11, 2019 1:02 pm

Thanks for this info Max. I am living on a complex now, albeit with my own roof space. I wonder if anyone on a complex has done this before?

Dee
,

User avatar
Jimgward
Posts: 1987
Joined: Fri Dec 30, 2016 8:14 pm
Location: Lanark
Contact:

Re: Electricity prices to rise by more than 5% in June

Post by Jimgward » Wed Jun 12, 2019 12:31 am

trevnhil wrote:
Tue Jun 11, 2019 10:30 am
But one has to assume you are on more than the average number of panels, ie more than a 3kw system ;-)
Yes Trev, we have a 5kw system.

User avatar
memory man
Posts: 2602
Joined: Wed Dec 28, 2016 7:30 am

Re: Electricity prices to rise by more than 5% in June

Post by memory man » Wed Jun 12, 2019 7:21 am

June and July electricity bills to be up to 11% more expensive than last summer

Electricity bills in June and July are expected to be between 5%-11% more expensive than the same period last year, philenews reports.

It said that the increase is attributable to a rise in fuel prices and the use of air-conditioners.

Specifically, the surcharge on each kWh resulting from the rise in fuel prices has increased by 80% per kWh compared to June and July of 2018 and by 33% compared to last May.

The fuel price surcharge in June and July 2018 was 2.30 cents per kWh, 3.19 cents last May and now it amounts to 4.14 cents per kWh.

A kWh of electricity now costs 14.60 cents while in June and July of 2018 it costed 11.76 cents and 12.66 cents in last May.

The final increase, considering other surcharges will be around 5%-11% on each bill.

This means that:

A household with low consumption (417 kWh) will now pay a bill of €96.92 compared to €87.5 last year and €92.44 in the past two months.
A household with average consumption (800 kWh) will now pay a bill of €179.70 compared to €161.60 last year and €170.64 in the past two months.
A household with high consumption (1200 kWh) will now pay a bill of €266.07, compared to €238.90 last year and €252.55 in the past two months.

https://in-cyprus.com/june-and-july-ele ... st-summer/
Image

jeba
Posts: 582
Joined: Fri Jan 27, 2017 8:38 pm

Re: Electricity prices to rise by more than 5% in June

Post by jeba » Wed Jun 12, 2019 8:07 am

Varky wrote:
Mon Jun 10, 2019 5:53 pm
trevnhil wrote:
Mon Jun 10, 2019 5:22 pm
Oil prices have come Down in recent weeks hence the drop in Petrol and Diesel fuel prices..
You and HiC should get together and decide whether oil prices have gone up or down!
If they can´t agree they might check on https://finance.yahoo.com/quote/BZ%3DF?p=BZ%3DF

User avatar
cyprusmax47
Posts: 2919
Joined: Wed Dec 28, 2016 10:10 am
Location: Paphos area since 1982

Re: Electricity prices to rise by more than 5% in June

Post by cyprusmax47 » Wed Jun 12, 2019 11:56 am

memory man wrote:
Wed Jun 12, 2019 7:21 am
June and July electricity bills to be up to 11% more expensive than last summer

Electricity bills in June and July are expected to be between 5%-11% more expensive than the same period last year, philenews reports.


A kWh of electricity now costs 14.60 cents while in June and July of 2018 it costed 11.76 cents and 12.66 cents in last May.



https://in-cyprus.com/june-and-july-ele ... st-summer/
I wonder why these articles from the local press concerning electricity prices, always take us for an idiot, telling the price of one unit is only 14.60 cent, when in reality it is between 24 and 28 cent per kWh, depending on your consumption figures. If one reads the article three times you will not come to the same result.... :roll:

Max

Post Reply

Who is online

Users browsing this forum: Google Adsense [Bot], manxie and 11 guests