FAMAGUSTA GAZETTE – The Cyprus Turkish Electricity Authority (KIB-TEK) – the transmission operator in north Cyprus – has issued a statement addressing public reactions to an 11.66% increase in electricity tariffs, set to take effect on April 1, 2025.
The statement aims to clarify the reasoning behind the price adjustment and provide transparency.
KIB-TEK highlighted that the last tariff adjustment was made six months ago, on October 1, 2024, despite regulations requiring changes at least every two months.
The decision to delay price increases was made to consider the impact on citizens, even as foreign exchange rates and living costs rose by approximately 12% during the same period.
The authority explained that its primary expenses, such as infrastructure development, fuel, and technical maintenance, are paid in foreign currency, making tariff adjustments necessary to ensure sustainability.
It emphasized that the new price regulation aligns with recent economic changes and is crucial for maintaining uninterrupted services and future investments.
KIB-TEK assured the public that technical maintenance is ongoing without disruptions, fuel supplies for power plants are being procured regularly, and material stocks are continuously updated. The organization also urged citizens to consider these factors when evaluating the tariff adjustments.