Within the framework of the Pancyprian Tourist Forum 2010, Commerce Minister, Antonis Paschalides announced on Tuesday that the electricity prices have been cut by 1%.
Invited to comment on reports about the price cut, Mr. Paschalides said that it is a huge effort and KODAP, the organization for the storage of the strategic reserves and other fuel in Cyprus, has reduced the duty to 50%”, he said.
“This will pass through EAC, which is the biggest customer on fuel and we know that the Authority will pass this through the consumers. Electricity powers will be cut by 1%”, he said.
Invited to clarify KODAP’s duty, the Minister said that from one euro its drops to fifty cents per kilo of crude. “The biggest customer of crude is EAC, which uses it for the production of electric energy”, he said.
Invited to comment on reports about the price cut, Mr. Paschalides said that it is a huge effort and KODAP, the organization for the storage of the strategic reserves and other fuel in Cyprus, has reduced the duty to 50%”, he said.
“This will pass through EAC, which is the biggest customer on fuel and we know that the Authority will pass this through the consumers. Electricity powers will be cut by 1%”, he said.
Invited to clarify KODAP’s duty, the Minister said that from one euro its drops to fifty cents per kilo of crude. “The biggest customer of crude is EAC, which uses it for the production of electric energy”, he said.
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