Filenews 12 January 2021 - by Chrysanthos Manolis
By decision of the Cyprus Energy Regulatory Authority (AREK) the regulated electricity prices are amended, with effect from the end of January to the end of 2021, resulting in an average reduction of 3.2% in the total regulated prices, with a basic fuel price of EUR 300 per metric tonne.
According to AREK's decision, interpretation 8/1/21:
- The average low-voltage base rate (price 01, 2021 is set at 12.82 cents per kilowatt hour, compared with 13.75 cents in 2020 (a decrease of 6.7%).
- The average price for the basic wholesale price, with a basic fuel price of EUR 300 per metric tonne, was set at 8.71 cents, compared with 9.24 cents in 2021 (a decrease of 5.8%).
- With regard to net usage charges, 3.46 cents were fixed by RAEK for 2021, compared with 3.53 cents in 2020 (down 2%).
- Finally, with regard to EAC's permitted revenues (with a base price of EUR 300 per metric tonne) per kilowatt hour sold, it was set at 11.98 cents, compared with 12.70 in 2020 (down 5.7%).
As is apparent from the text of the regulatory decision, the reductions in prices are due to a reduction by AREK in the permissible revenues (recovery of revenue) from EAC, in return for the costs it will make.
For example:
- For the pricing of the use of the Transmission System, authorised revenue (at a corresponding cost to consumers) of EUR 41,898,403 was initially requested, but AREK reduced it by EUR 5,25 million. Euro.
- For distribution system usage rates (medium and low voltage) authorised revenues of EUR 87,190,792 were requested and AREK reduced them by EUR 10,7 million.
- For the purchase of energy from RES at a basic price, EUR 51,5 million was initially estimated for 2021. This was reduced by EUR 7,8 million, but AREK reduced them by EUR 7,8 million.
- For commission prices and electricity purchase charges to the final consumer, the initial calculation of authorised income was almost EUR 599 million. and decreased by AREK, for 2021, by EUR 4,6 million. About.
