Electricity Prices Increase Announced by the Electricity Authority
March 19, 2026
The President of the Electricity Authority of Cyprus, Giorgos Petrou, announced an increase in electricity prices starting May, estimated at around 5% due to rising oil prices. This increase could reach up to 20% in August if oil prices exceed $110 per barrel. He noted that oil prices are uncertain and influenced by geopolitical developments. The authority continues to import fuels to ensure sufficient reserves. Current reserves are enough to meet demands for about two months.