In the next 10 to 15 days, EAC is expected to reach its final decision regarding the request for a 6% increase in electricity pricing or not.
During the discussion in the Parliamentary Trade Committee, EAC’s Director-General, Adonis Yiasemides, stated that the administrative board of EAC would continue studying the economic data.
He mentioned that the board continues to be informed about EAC’s finances, noting that the chairman of the board had requested a ten-day time credit.
The Director-General is expected to address both the 6% increases in EAC’s 2024 bills and the withdrawal of the appeal filed by EAC in court for the 13% increases in 2023 bills.
Yiasemides stated that the 13% issue would be thoroughly examined over time by the court.
It is recalled that recently, EAC’s Director-General, Adonis Yiasemidis, in a letter sent to the members of the Parliamentary Energy Committee, pointed out that “even if the discount granted by EAC (due to the pandemic) to electricity consumers during the years 2020-2022, totaling €53.9 million, is not taken into account, EAC’s total business profit from 2018 to 2023 is essentially lower than the expected business profit based on the 4.6% regulation” of CERA.
Responding today to MPs’ questions, he said that 2023 closed with profits of €64 million.