Due to the global energy crisis and the depreciation of the Turkish lira against foreign currency, electricity bills are increasing, causing growing concern among users. The Cyprus Real Estate Center conducted a study of the reasons for this increase and possible ways to optimize electricity production and consumption.
Tariffs for the main group of consumers:
0-250 kw - 2,6963 tl
251-500 kw - 5,5625 tl
501-750 kw - 5,9810 tl
751-1000 kw - 6.4831 tl
1001 kW - 7,7383 tl
The economy is in crisis due to military conflicts, currency fluctuations and rising energy prices, in particular for fuel and electricity. The increase in electricity bills is due to the instability of fuel prices and currency fluctuations. To stabilize the cost, a balance between fuel prices and currency is needed, but so far there is no such balance.
The Turkish Cypriot Electric Power Corporation has the opportunity to improve the situation by switching to more efficient fuels, implementing energy efficiency laws and increasing the use of renewable energy sources. Experts consider the use of solar energy as one of the possible options.
However, the use of alternative energy sources faces limitations. For example, natural gas seems to be more efficient, but access to its reserves on the island of Cyprus is limited. Increasing energy capacity through renewable sources can cause problems for the grid due to their variable nature, but investments in smart grids and storage can mitigate these effects.
To reduce energy bills, consumers can reduce consumption, invest in energy efficient devices and use renewable energy sources. When buying a new home, it is important to ensure its energy efficiency, which can reduce energy bills.
