Discount on electricity bills expected in a few days

[Paphos Life]

Government departments and the power company (EAC) expect to finalise a discounted rate on electricity bills in the next few days, Energy Minister Natasa Pilides said on Wednesday.The minister spoke to reporters after a meeting with EAC brass and Finance Minister Constantinos Petrides to discuss the possibility of the company absorbing the expected rise in electricity bills....

Read the article and chat about it below...

[wilky]

Why not cut vat from 19% to 5% that would make a decent discount on our electric bills and it could be adjusted later after the winter months.

[Dominic]

But VAT money goes to the Government, whereas the bills go to the Electricity Board. It was my understanding that one of the reasons for the big increase was the fines imposed. If these fines are just passed on, they have zero impact.

[Kili01]

Very true, Dominic, heavy fines imposed by the EU, I think because of the pollution caused by the old electricity generators which are still coal burners.. They should have been replaced by modern gas generators after the power station was blown up in 2011. But weren't.

Dee

[Kili01]

Sorry, HIC, you are right! That was a Freudian slip on my part. Yes, of course these old generators are burning heavy fuel oil which causes high levels of pollution. I was very tired when I wrote that yesterday evening and had had a glass of wine...

Dee

[wilky]

Vat cut from 19% to 5% on electricity bills for the vulnerable

[Dominic]

Sorry, HIC, you are right! That was a Freudian slip on my part. Yes, of course these old generators are burning heavy fuel oil which causes high levels of pollution. I was very tired when I wrote that yesterday evening and had had a glass of wine...

Dee

Freudian slip
noun
an unintentional error regarded as revealing subconscious feelings.

Have you been harbouring subconscious feelings about coal?

[wilky]

The finance minister has notified the EU Cyprus is going to cut vat on electricity bills from 19% to 9% for 3 months on household bills surely 19% is too much on an essential commodity such as electricity.

[Kili01]

If only EAC had some competition, as the EU had advised after 2013. It is a giant ( for Cyprus) behemoth. Grossly ineficient and over staffed. It should have replaced its heavy fuel oil generators with gas fired ones when the fire damaged generators had to be replaced following the mega explosion in 2011. Had this happened, Cyprus wouldn't have been burdened with the heavy fines imposed by the EU for excessive polluting emissions from burning the heavy fuel oil. These huge fines are not only being paid off by those who receive electricity usage bills, but I seem to remember reading that Govt had decided to put an additional levy on petroleum products as well...

Dee

[Kili01]

Hi HIC,
1. yes, the UK has a rather different problem to ours. Too many small operators for the electricity market there offering incredible low cost energy prices.. Fortunately. I am with one of the big ones there, backed by its own operation.
Cyprus, didn't follow the advice they were given at the time to switch to natural gas.

2.Re competition. Whether there is or not, you were resident in Cyprus then, I think? Then the EU mission that was helping Cyprus out of its financial collapse following the explosion, was recommending trying to diversify the electricity production costs to give competition to the state backed industry (EAC) and somehow to reduce the cost of electricity to consumers. Which of course never happened as some EAC employees were threatening to strike forcing the threat of further electricity blackouts. To consumers and industry in a country which had just suffered both following 2011.

Dee