Sunday, November 17th 2019 8PM °C nicosia
04-11-2019 15:09 | Read 233 times

'No energy price hikes'

ELECTRICITY prices could remain frozen until the end of 2020, Economy and Energy Hasan Taçoy has said

'No energy price hikes'

The suggestion came after Mr Taçoy’s previous pledge, reported by Cyprus Todayin September, that there would be no energy price hikes for the remainder of 2019.

Answering questions during a TV interview, Mr Taçoy said that his promise not to raise tariff rates until the end of the year would “absolutely” be met and that there had been an “overall reduction” in the cost of electricity.

“If my words as a minister are accepted as a whole, and if we act accordingly and proceed to lower the cost [of electricity] by one or two cents, then maybe we will not need to impose the hike that we are due to impose after the New Year, and continue for another year without any hikes,” he said.

Referring to the debts of energy authority Kıb-Tek, Mr Taçoy said that the bulk of unpaid electricity bills belonged to municipalities.

Repayment plans had been put in place in order to collect the money owed to Kıb-Tek, the minister said.

He also underlined the “strategic importance of Kıb-Tek since 1996” which meant it “should not be privatised”.

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