New Government law will boost Kib-Tek finances

Bayrak Radio has reported that 5 government decrees concerning the Cyprus Turkish Electricity Authority came into force as of today. The decrees are aimed at easing the financial situation of the Electricity Authority.

Government decrees concerning the Electricity Authority were prepared by the Ministry of Economy and Energy with the aim of ensuring a more effective collection of revenues and saving.

Decrees include amendments to the Electricity Law, the role of municipalities in the payment of street lighting as well as regulative developments concerning the use of electricity.

Minister Sunat Atun said that from now on the street lighting fees will be collected only by the Cyprus Electricity Authority adding that only the authority would be able to carry out repairs .

Atun also said that the Cyprus Electricity Authority will be able to apply interest on overdue electricity bills of all government and public offices.

According to the measures, the authority will also cut off the electricity of all subscribers who haven’t paid their bills for over two months and technicians will dismantle electricity meters of subscribers who haven’t paid their bills for over 4 months.

Evaluating the decrees on Bayrak Haber, the Minister of Economy and Energy, Sunat Atun said that the 1st of January is a milestone in saving electricity.

“From now on street lighting is a responsibiltiy of the Electricity Authority and not the municipalities. A waste gas treatment system will be established at the Teknecik powerplant. Electric tariffs will also be amended and projects are underway for renewable energy” Atun said.

The Minister noted that the protocol concerning the transfer of electricity from Turkey to the TRNC is planned to be signed during the first quarter of 2013.

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