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Saturday, September 23, 2023

The reduction in the EAC accounts “locked” – The difference in the invoice

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The discount on EAC tariffs is expected to be finalized in the coming days, said Minister of Energy, Trade and Industry Natasa Pileidou, after a meeting with the President and members of the EAC Board, in the presence of Finance Minister Konstantinos Petridis.

In her statements to journalists after the meeting, Ms. Peleidou said that the EAC is once again ready to take some important steps to protect consumers and facilitate households and businesses during the difficult period we are still going through due to the restrictive measures and the negative impact of COVID.

“We are moving forward with some steps that the members of the Board have assured us that they will be done very quickly so that we can finalize the short-term measures that have been discussed, but also we can study some very good ideas for long-term measures, in addition to these. processed by our Ministry so that we can announce a series of measures. “We hope that some of them will have immediate effect for the relief of consumers in the near future, while others will offer more long-term solutions”, said Ms. Πηλείδου.

He also said that they are working on some kind of discount on invoices, which has not been finalized yet and he hopes that it will be finalized in the next few days. He added that efforts are being made by all parties to make the announcement as soon as possible, if not this week then next.

At the same time, Mrs. Peleidou noted that on the one hand they are interested in the position of consumers and households and their facilitation and on the other hand they are also interested in the viability of the EAC, which is a very important arm of the state that concerns both supply and energy security of Cyprus.

“Therefore, surely what has been discussed with CERA yesterday and is being processed by CERA and the EAC in cooperation with the Ministry, is how the investments and the development program of the EAC can be influenced to the least extent, so that it can go in the green season. “Certainly, cuts that will be drastic and without a study can lead to dangerous results,” said the Minister.

Answering questions, he said that the discount will be on the invoice but it is being studied from where, because CERA also has some suggestions regarding the part, which will be affected by the reductions.

Asked whether the reduction will be close to 10%, he said that he is not able to make any announcement at the moment, however the effort is to make the reduction noticeable, but at the same time to ensure the position of the EAC in terms of investments and sustainability.

Asked about the time during which the reduction will be valid, she said that the time will depend on the issuance of invoices and as she said it is something that is being processed by the EAC and may be done from the next two months.

Asked where Cyprus is in relation to the penetration of RES, he said that there are many measures that are either in force or will be implemented in order to have a higher percentage of RES in electricity generation, such as the ongoing net metering plans. and will continue to run. As he said, what has been discussed with the EAC is that they are open to suggestions regarding a medium-term plan to increase RES, meaning that the conventional production that is the goal will be reduced. He also said that the opening of the electricity market will definitely help new investors to enter the market. Already in the transition market, he said, the two new suppliers represent 2% of the market.

Ms. Pileidou also expressed the hope that given the excellent cooperation she had with the Parliament in the discussion of the bill for the opening of the electricity market, its approval will now proceed to the final stage.

RUN and POWER Group: Enhanced Living Experience.

Source: 24h.com.cy

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