Tuesday, 4 October 2011

Households to pay 30 pct more for power in 2012 ...

Katheremini on 4/10 wrote:
Households to pay 30 pct more for power in 2012

Electricity bills will rise by an average rate of 18 to 19 percent next year, with households in particular forced to shoulder a hike of more than 30 percent.

This unprecedented rise is due to the country’s commitment to its international creditors for the upgrade of electricity charges to levels that reflect the real cost of power production.

Next year will see the second stage of that rate adjustment, with the third set to follow in 2013. Next year’s rise in rates will affect all consumers, both domestic and commercial, as the tax hike on fuel has seen the cost of electricity production soar to the extent that any cuts to commercial rates have evaporated.

The process for this adjustment began on Tuesday with the Public Power Corporation submitting its updated cost data to the Regulatory Authority for Energy, according to estimates included in the PPC budget for 2012.

Now I know why I bought all those economy light bulbs at IKEA ...

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