‘Kıb-Tek move will curb rise in prices’

Cyprus Today - - NEWS -

ELEC­TRIC­ITY charges to pub­lic of­fices may go up in or­der to pre­vent a rise in bills for house­hold and busi­ness con­sumers, it has been an­nounced — at the same time as the cost of bot­tled gas went up by 35 per cent.

The new tar­iff for­mula was pro­posed by the Kıb-Tek elec­tric­ity au­thor­ity to pre­vent an an­tic­i­pated hike on the back of a rise in the cost of fuel, and was ac­cepted at a meet­ing on Wed­nes­day be­tween se­nior Kıb-Tek fig­ures and of­fi­cials from the Prime Min­istry, Fi­nance and Econ­omy min­istries.

The fi­nal de­ci­sion on the scheme, to ap­ply un­til the end of the year, will rest with the Coun­cil of Min­is­ters.

Wed­nes­day also brought the reve­la­tion that the cost of a 10kg gas bot­tle would rise by just over 35 per cent, from 59TL to 80TL.

An ini­tial fig­ure of 82.50TL had been sug­gested by fuel sup­plier Kıbrıs Türk Petrol, it was re­ported, but the lower fig­ure was agreed dur­ing ne­go­ti­a­tions with Koop Gaz, one of the coun­try’s three gas re­tail­ers. Fi­nance Min­is­ter Ser­dar Denk­taş said the other two, Jet Gaz and In­terGaz, had not yet agreed the 80TL price tag.

The rise brought an an­gry re­ac­tion from con­sumers who pre­dicted a dif­fi­cult win­ter ahead for low-in­come house­holsds, many of whom had al­ready switched to gas heat­ing and cook­ing be­cause of the soar­ing cost of elec­tric­ity.

Prime Min­is­ter Tu­fan Erhür­man said on Thurs­day the hike had been “un­avoid­able” be­cause of a rise in the price of raw ma­te­ri­als, rather than gas sup­pli­ers pur­su­ing in­flated prof­its and added an as­sur­ance that there would be no rise in elec­tric­ity prices un­til at least Jan­uary.

Mr Denk­taş pre­dicted last week that power prices would rise by 18 per cent in the new year.

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