Electricity Price Hike of 15 Percent Inevitable

North Cyprus News - Deputy PM Erhan Arikli
(Minister for Economy and Energy – Erhan Arıklı)

 A 15 percent increase in electricity prices by the end of May is inevitable, Economy and Energy Minister Erhan Arıklı has warned.

Arıklı said that the Kıb-Tek Board of Directors had applied for a rise in tariffs in accordance with the regulation two months ago adding, “We wanted it to be postponed due to economic problems. If no alternative is produced in today’s Council of Ministers, it will come into force”.

The energy minister told Yeniduzen that the price of electricity will increase from 97 kurus to 119 kurus per kilowatt. The Council of Minister will discuss the issue today and if a new source is not found, the regulation will be enforced, he said.

The minister also pointed out that there are no funds left in the Price Stability Fund. Stating that the Turkish Court of Accounts had been commissioned and warned about the implementation of the regulations submitted by the Board of Directors, Arıklı said, “The Court of Accounts has been activated. He said that damage to the institution should not be tolerated ….. We barely even pay salaries. We do not have any resources”, he said.


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