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Monday, February 6, 2023

EAC response to today's publication of “P”

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Regarding today's publication of the newspaper Politis on “Social Policy with Consumer Money”, the EAC states the following:

Point 1 – Obligations of Public Utility

The implementation of the Special Pricing with code 08 is a measure of social policy of the state, and not of the EAC. By decision of the Minister of Energy, Trade, Industry and Tourism on April 4, 2006, a special household pricing was introduced for specific categories of vulnerable consumers, with reduced charging prices of their consumption units. This decision instructs the Cyprus Energy Regulatory Authority (CERA) to impose on all holders of electricity supply licenses, Public Utility Obligations (PPPs) regarding the price of electricity supply.

For the implementation of the above and in accordance with Regulatory Decision No. 01/2010, CERA approved the imposition of a Fee for Public Benefit Obligations (PPC) for the recovery by the EAC of the expenses to which the EAC is submitted as a provider of the Public Benefit Service. The fee is imposed on all consumers, regardless of whether they are EAC customers or not.

Today the YDO fee amounts to 0.044 cents/KWh, which is an insignificant charge on the total amount of the bill. For example, every € 100 electricity bill corresponds to 45 cents for the YDO fee. The YDO Fee is adjusted according to the number of beneficiaries that are included in the Special Pricing and is approved by CERA.

Every month, the Services of the competent Ministry send to the EAC revised electronic files, which inform the EAC about the persons who belong to the specific groups, the persons who cease to be beneficiaries or for new beneficiaries of the allowances.

Point 2 & # 8211; VAT

Based on a relevant Decree issued by the Council of Ministers, the VAT rate was reduced to 9% for all household customers for a total period of five months from 1 January 2022. In addition, for customers included in the vulnerable population groups the VAT rate was reduced to 5% for a total period of eight months, ie from January 1, 2022 until the end of August 2022.

Point 3 – Reduction in EAC Tariffs

According to relevant decisions, the EAC has offered a reduction in the tariffs of all its customers, in two separate periods during the last 2 years, corresponding to the amount of € 56 million. has been substantially returned by the EAC back to the Society and the Economy of the place.

Source: politis.com.cy

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