Nicosia, Cyprus. Electricity prices in the north will increase by 22 per cent from next Monday, the Turkish Cypriot electricity authority Kib-Tek announced on Tuesday. The authority said the rises were necessary to maintain its financial structure.
Tariff increase
Kib-Tek said it had not adjusted electricity tariffs in the previous 14 months, while fuel prices rose by more than 60 per cent, the cost of living increased by 38 per cent and the Turkish lira fell by 18 per cent. It said the planned increases were necessary to ensure the sustainability of Kib-Tek’s financial structure.
Residential rates
For residential properties on the flat-rate tariff, the first 250 kilowatt hours will increase to 5.8614TL (€0.11) per kilowatt hour from 4.8044TL (€0.09) per kilowatt hour. Equivalent increases will also apply to the subsequent price bands.
The fixed monthly usage fee for residential properties is currently 110.58TL (€2.07). It was not immediately clear whether this fee would be included in the increase, but if it is, it will rise to 134.91TL (€2.53).
Rates in the Republic
In the Republic, single-rate domestic consumers pay 10.35 cents per kilowatt hour as an energy charge, plus 3.93 cents per kilowatt hour for the network charge. Domestic users also pay a €0.94 meter data management charge and an €8 supply charge on each bimonthly bill.
Those on the two-rate tariff pay 17.94 cents per kilowatt hour during standard periods, between 9am and 11pm, and 17.86 cents per kilowatt hour during economy periods, between 11pm and 9am. They also pay the same meter data management charge and supply charge on each bimonthly bill.