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Electricity bills are still inflating and according to what the Cyprus Electricity Authority itself says, in the coming months there will be an additional increase of 16%. Households and businesses can not cope and expect the government to take decisive action to stem the tsunami of price increases.

After all, households in Cyprus pay a much higher rate than other Europeans for the price spike as a result of the energy crisis, which is confirmed by the official data of the EU Statistical Office, for the prices of household electricity in the second half of 2021. , compared to the second half of 2020, with the largest increase recorded in three countries: Estonia (+ 50%), Sweden (+ 49%) and Cyprus (+ 36%).

The Cyprus Consumers' Association demands the setting of a maximum price for electricity. In a letter, the president of the Association, Marios Drousiotis, referring to the 2012 Law on Determining Maximum Wholesale and Retail Prices in Special Cases, notes that the Minister of Energy may, by decree, impose a maximum price on a small number of products for a specific period which may to be renewed. Among these products is electricity. & nbsp;

READ ALSO: & nbsp; Electricity bills in Cyprus increased by 36%

Specifically, Article 4 of the relevant law states: “4. .- (1) Irrespective of the provisions of Article 3, the Minister may issue a decree setting the maximum selling prices for a period of up to forty-five (45) days. for all or some of the products listed in the Annex, when the prices at which these products are sold in the Republic are at a much higher level than is justified by international and domestic conditions, and when “particularly difficult economic conditions prevail in the market, which require the restraint of the increase in prices of basic consumer goods, as well as for the protection of consumers, especially when the profit margin of traders is too high.”

The Association considers that the immediate issuance of a decree of the Minister of Energy is required, which sets the maximum selling price for electricity. He proposes features such as the additional increase of 16% to be imposed by the EAC, to be frozen by a decree of the Minister of Energy, which defines as maximum selling prices of electricity those that are in force today.

Asked about this, the deputy director of the Consumer Protection Service, Antonis Ioannou, stated that the legislation does include electricity in products that may be imposed by the government. However, he notes, the Ministry of Energy considers that in order for this to happen, the conditions set out in paragraph 4.1 of the relevant law must be met. Indeed, he said, there are particularly difficult economic conditions in the market. He added, however, that the prices available for electricity are justified in the current circumstances. & Nbsp;

Furthermore, he said, despite the existence of legislation, there may be legal issues since it is the responsibility of CERA electricity billing issues. To address the energy crisis, he noted, the government has reduced the excise tax on gasoline by 7 cents a liter, or 8.3 cents a liter on diesel. Furthermore, he noted, the VAT rate on electricity has been reduced to 5% for vulnerable consumers and to 9% for other households. He added that this practice serves all household consumers, without market intervention. & Nbsp;

Source: www.philenews.com

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