Heat wave pushes up electricity demand, cost to drop for businesses
Electricity demand on Tuesday was at a similar level to Monday’s, which was the highest of the year at 1020 MW, according to the Director of the Transmission System Operator (TSO) Christos Christodoulides who said that overall production capacity is at around 1180 MW.
“There is sufficient supply to cover demand, provided that no major faults will affect the electricity system and in particular the production units,” the TSO Director said.
The weather office noted that temperatures reached 42 degrees Celsius inland and around 32 degrees Celsius on the highest mountains, with the warning level remaining at ‘yellow’, meaning potentially dangerous.
At the same time, the water authorities said that supply remained at satisfactory levels, with reservoirs half-full at 50% of their capacity, compared to 38% this time last year.
Monday’s electricity demand reached around 965MW higher than last year’s level of 910MW.
“There is sufficient power supply, provided we will not have any unexpected damage that could affect power plants,” the TSO’s Christodoulides said.
Meanwhile, the monthly cost of electricity for consumers – industrial and commercial – will be reduced by 0.57% in August compared to the bills in July.
EAC spokeswoman Christina Papadopoulou said that the drop of the electricity cost is due to the recent decrease in crude oil prices.
Despite the decrease for businesses, household consumers will see an increase of 2.54% in their two-monthly bills for August due to the green tax which is paid for the reusable energy sources fund and due to the previous increase of fuel prices by 1.76%.
The reduction of electricity cost by households will be included in the next bill.
Guaranteed Minimum Income (GMI) welfare recipients will be included in the electricity authority’s special tariff category applied for various vulnerable groups.
The EAC spokeswoman said that to date, some 15,000 domestic consumers benefited from the special tariff, which provides for a 20% discount. This category includes around 7,000 GMI recipients.