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Electricity prices up 10 per cent since January

first_imgThe price of electricity has increased by almost 10 per cent since the beginning of the year, while the Electricity Authority of Cyprus (EAC) says it is trying to expand its renewable energy projects so as to reduce demand for fossil fuels.Figures released on Monday showed that a household consuming 600kWh would have paid €110.22 in January but would today receive a bill for €120.65.Meanwhile, average fuel prices for the state power plant have gone up by a whopping 17.7 per cent, with the average January price of €332.95 rising to €391.92 in May for the EAC.The cost -or savings if petrol prices go down – are not immediate to consumers, EAC spokeswoman Cristina Papadopoulou said, as the power plant has three month reserves.Nonetheless, she said that the change in fuel price is not fully reflected n bills – meaning consumers shouldn’t expect a close to 18 per cent price hike to their bills in the near future.Additionally, prices include costs of transport, distribution and fees such as VAT.Last week, it emerged that gasoline and diesel prices in Cyprus increased by four per cent during a three-week period in May.In a bid to lessen Cyprus’ dependence on fossils and  adhere to EU directives on clean energy, the EAC is trying to expand its renewable energy sources.According to Papadopoulou, they are now in a consortium with the Archbishopric to create photovoltaic parks with a power capacity of 50MW.Negotiations are also moving forward to create a 20MW photovoltaic park in the Akrotiri base, she said. The project, which has been under discussion for years, has not been able to move forward after environmental concerns suggesting that the works for the solar park would affect the biodiversity and ecosystem of the area.Furthermore, some 4,500 mostly cypress and citrus trees would have to be chopped down and air pollution would be caused during the works, in addition to solid waste, according to a report from the department of the environment.You May Likewmnlife.com5 Amazing Benefits of Beerwmnlife.comUndoRelated AdsOnline Banks Are Giving Away Money For Opening AccountsRelated AdsUndoEditorChoice.comA Piece Of Aluminum Foil May Change The Way You Use Your Phone!EditorChoice.comUndo Iran’s Revolutionary Guards publish purported exchange with British warshipUndoProperty owners price themselves out of the marketUndoVerstappen wins crazy German Grand PrixUndoby Taboolaby Taboolalast_img read more